U.S. Home Loan Applications Drop
From Reuters
The number of Americans applying for a home loan fell last week even as borrowing costs receded, but lending activity remained robust.
The Mortgage Bankers Assn. said its market index, a measure of weekly mortgage activity, fell 6.8% in the week ended Friday to 797.8.
At the same time, the trade group’s purchase index, a gauge of new requests for loans to buy homes, fell 9.4% to 402.2.
MBA’s refinancing index, a gauge of demand for home loan refinancings, slipped 4.7%.
From Reuters
