U.S. mortgage applications dipped last week-MBA

NEW YORK, Dec 8 (BestGrowthStock) – Applications for U.S.
residential mortgages declined slightly last week as a key
interest rate rose to a 4-1/2 month high, an industry group
said on Wednesday.

The Mortgage Bankers Association said its seasonally
adjusted index of mortgage application activity edged lower by
0.9 percent to 603.5 in the week ended Dec. 3.

The MBA’s seasonally adjusted index of refinancing
applications fell 1.4 percent to 2,932 last week. The gauge of
loan requests for home purchases inched higher for a third
week, however, by 1.8 percent to 210.9.

Fixed 30-year mortgage rates averaged 4.66 percent in the
week, the highest since the week ending July 23, the MBA said.
The rate is up from 4.56 percent in the prior week.

(Reporting by Al Yoon; Editing by Diane Craft)

U.S. mortgage applications dipped last week-MBA