U.S. mortgage applications fall as loan costs rise

NEW YORK (Reuters) - U.S. mortgage applications to buy a home and to refinance one declined for the first time in three weeks, as home borrowing costs rose in step with higher U.S. bond yields, the Mortgage Bankers Association said on Wednesday.

The Washington-based industry group said its seasonally adjusted index on mortgage activity fell 2.5 percent to 375.3 in the week ended March 1.

(Graphic: GRAPHIC-U.S. mortgage applications interactive link: https://tmsnrt.rs/2RnEpRD)

(Reporting by Richard Leong; Editing by Chizu Nomiyama)

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