From Bloomberg: The number of mortgage applications in the U.S. fell last week by the most this year as higher lending rates led to a slump in refinancing.
The Mortgage Bankers Association’s index declined 16.5 percent in the week ended Nov. 26, figures from the Washington- based group showed today. The gauge of refinancing fell 21.6 percent, the biggest drop of the year. The measure of purchases climbed 1.1 percent……………………………………….Full Article: Source