Mortgage Applications Fall as Rates Edge Higher

Applications for U.S. home mortgages fell last week as interest rates edged up, an industry group said on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 3.6 percent in the week ended July 11.

The MBA's seasonally adjusted index of refinancing applications fell 0.1 percent, while the gauge of loan requests for home purchases, a leading indicator of home sales, fell 7.6 percent.