Off The Wire
U.S. home refinancing requests hit lowest since 2000: MBA
NEW YORK (Reuters) - U.S. loan applications to refinance an existing home fell to their lowest level in over 17-1/2 years even as most 30-year home borrowing costs decreased last week, data from the Mortgage Bankers Association released on Wednesday showed.
The Washington-based industry group said its seasonally adjusted index on homeowners’ requests for refinancing fell 3.8 percent to 958.5 in the week ended July 6. This was the lowest weekly reading since December 2000.
Reporting by Richard Leong