Economics
U.S. Mortgage Applications Fall by the Most in Four Months
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The number of mortgage applications in the U.S. dropped last week by the most in four months, led by a decrease in refinancing as mortgage rates rose.
The Mortgage Bankers Association’s index decreased 11 percent in the week ended Oct. 15, the biggest decline since June, the Washington-based group said today. Refinancing fell 11 percent while purchases dropped 6.7 percent.