Applications for U.S. home mortgages fell last week due to a sharp decline in purchasing and refinancing activity as mortgage rates rose slightly, an industry group said on Wednesday.
The declines erased much of the jump in mortgage activity from the preceding week when mortgages for home purchases reached a record peak. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity decreased 11.3 percent to 786.8 in the week ending June 17, erasing some of the previous week’s 17.4 percent gain.
