US mortgage applications fall as rates climb – MBA

Applications for U.S. home mortgages fell last week as interest rates on 30-year loans rose more than in any week since March, industry group figures showed on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity fell 0.3 percent to 752.1 in the week ending July 29, adding to the previous week’s 5.8 percent loss. The four-week moving average is down 3.2 percent to 774.9 from 800.2.