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U.S. mortgage activity index falls to lowest since May: MBA

Published 10/26/2016, 09:47 AM
Updated 10/26/2016, 09:50 AM
© Reuters. Homes are seen for sale in the northwest area of Portland

NEW YORK (Reuters) - A measure of U.S. mortgage application activity fell to its lowest level in nearly five months in the latest week even as 30-year mortgage rates declined from four-month highs, data from the Mortgage Bankers Association released on Wednesday showed.

The Washington-based industry group's mortgage market index fell 4.1 percent to 492.0 in the week ended Oct. 21, which was the lowest level since the week of May 27.

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