Applications for U.S. home mortgages fell for the second week in a row despite a drop in the 30-year mortgage rate to a 15-month low, an industry group said on Wednesday.
The Mortgage Bankers Association said both refinancing and purchasing mortgage activity dipped in the week ending June 24 after falling substantially in the preceding week. The MBA said its seasonally adjusted index of mortgage application activity decreased 1.1 percent to 778.4, adding to the previous week’s 11.3 percent loss.
