U.S. mortgage applications rise as loan costs fall – Reuters

FILE PHOTO: A home “SOLD” sign hangs in front of a house in Vienna, on the day the National Association of Realtors issues its Pending Home Sales for February report, in Virginia March 27, 2014. REUTERS/Larry Downing

NEW YORK (Reuters) – U.S. mortgage applications to buy a home and to refinance one increased last week as most borrowing costs fell in step with U.S. bond yields tied to worries about slowing economic growth, data from the Mortgage Bankers Association showed on Wednesday.

(GRAPHIC: U.S. mortgages applications – here)

The Washington-based industry group’s seasonally adjusted index on mortgage activity rose 2.3 percent to 384.0 in the week ended March 8. The gauge has risen three of the past four weeks.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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