US mortgage applications decline in week to 30 October, MBA saya

Applications for US home mortgages declined as mortgage interest rates rose to their highest level in a month, data released on Wednesday showed.

The Mortgage Bankers Association (MBA) said its seasonally adjusted index of application activity, which covers home purchase demand and refinancing demand, declined 0.8% in the week ended 30 October.

The seasonally adjusted sub-index of refinancing applications slid 1%, while the index of loan requests for home purchases, a key indicator of home sales, fell 1% but remained up 20% year-on-year.

Meanwhile, fixed 30-year mortgage rates increased from 3.98% to 4.01%.