U.S. Mortgage Applications Decline for Second Week

Applications for new loans to purchase houses in the United States declined by 4.6% last week, data by the Mortgage Bankers Association (MBA) showed on Wednesday.

This is the second consecutive weekly decline for U.S. mortgage applications.

The fixed-rate for the 30-year mortgage rose to its highest level in about 10 months at 3.36%, which contributed to the decline in mortgage applications coupled with rising house prices due to supply shortage.