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Mortgage applications dropped off

Applications for U.S. home mortgages ebbed in the last two weeks of the year amid the holiday season as loan rates hovered around their highest levels in seven months, an industry group said yesterday.

Applications for U.S. home mortgages ebbed in the last two weeks of the year amid the holiday season as loan rates hovered around their highest levels in seven months, an industry group said yesterday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity rose 2.3 percent for the week ended Dec. 31 and dipped 3.9 percent in the prior week.

 
 
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