U.S. mortgage applications post biggest drop in four months: MBA

April 24, 2019

NEW YORK (Reuters) – U.S. mortgage applications to buy a home and to refinance one recorded their steepest weekly decline in four months as some mortgage rates increased to one-month highs in step with higher bond yields, the Mortgage Bankers Association said on Wednesday.

The Washington-based industry group said its seasonally adjusted index on home loan requests to lenders fell by 7.3% to 425.6 in the week ended April 19. Last week’s drop was the biggest since a 9.9% decrease in the week of Dec. 21.

(Reporting by Richard Leong)

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