U.S. mortgage applications slip in last week: MBA

NEW YORK (Reuters) - U.S. mortgage applications decreased modestly last week, led by a decline in loan requests to buy a home, even as some home borrowing costs fell, the Mortgage Bankers Association said on Wednesday.

The Washington-based group's seasonally adjusted index on mortgage activity dipped 0.5 percent to 416.8 in the week ended Aug. 18 with its mortgage purchase gauge falling 1.5 percent.

(Reporting by Richard Leong; Editing by Jeffrey Benkoe)

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