U.S. mortgage applications fall to six-week low: MBA
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FILE PHOTO: Homes are seen for sale in the southwest area of Portland, Oregon March 20, 2014. REUTERS/Steve Dipaola
NEW YORK (Reuters) - U.S. mortgage applications fell to their lowest levels in six weeks even as home borrowing costs turned cheaper as a result of lower bond yields, the Mortgage Bankers Association said on Wednesday.
The Washington-based group's seasonally adjusted index on mortgage activity to buy a home and to refinance one declined 4.3% to 407.2 in week ended April 26, which was the lowest reading since 390.0 in the week of March 15.
GRAPHIC: U.S. mortgage applications - https://tmsnrt.rs/2RnEpRD
(Reporting by Richard Leong; Editing by Chizu Nomiyama)
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