U.S. mortgage applications slide for fifth straight week: MBA

A new subdivision project of residential homes in shown in Glenelg, MarylandApplications for U.S. home loans tumbled in the latest week, led by a sharp slide in refinancing applications, data from an industry group showed on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, sank 12.8 percent in the week ended November 29. The fall in mortgage applications comes as investors try to gauge when the U.S. Federal Reserve might exit its bond-buying program. MBA data showed 30-year mortgage rates rose 3 basis points in the latest week to 4.51 percent.

Personal Finance News Headlines – Yahoo! News

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