U.S. Mortgage Applications Dip Slightly Though Rates Fall: MBA

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October 02, 2013 AT 11:12 AM
(Reuters) - Applications for U.S. home loans dipped slightly in the latest week, as a drop in demand for purchase loans outweighed an increase in refinancing demand, 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, fell 0.4 percent in the week ended September 27. That follows a gain of 5.5 percent in the week ended September 20. ...