U.S. home refinancing requests hit near 18-year low: MBA

[November 21, 2018]  NEW YORK (Reuters) - U.S. borrowers filed the fewest applications for home refinancing in about 18 years last week even as mortgage rates drifted lower in step with U.S. bond yields, the Mortgage Bankers Association said on Wednesday.

A man stands near a sign advertising a home for sale in the Pacific Heights neighborhood in San Francisco, California October 25, 2013. REUTERS/Robert Galbraith

The Washington-based industry group said its seasonally adjusted index on refinancing activity fell 5.0 percent to 783.7 in the week ended Nov. 16. This was the weakest reading since December 2000.

The latest figures were not adjusted for the U.S. Veterans Day holiday last week, MBA said.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)

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