On Wednesday, data from an industry group showed that for the first time in four weeks, U.S. mortgage applications fell, this has happened due to a drop in demand for home refinancing loans as interest rates jumped up.
Applications for loans to buy a home were flat which are considered as an early indicator of sales. Lack of interest for purchase loans does not bode well for the hard-hit U.S. housing market, which has been otherwise showing good signs that the housing market is gradually stabilizing.