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

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 on a seasonally adjusted basis fell 4.1 percent to 492.0 in the week ended Oct. 21, which was the lowest level since the week of May 27. The group's seasonally adjusted index on weekly appli