August 22, 2018 / 1:58 PM / 8 months ago

U.S. home purchase loan applications rebound from six-month low: MBA

FILE PHOTO: A 'for sale' is seen outside a single family house in Garden City, New York, U.S. on May 23, 2016. REUTERS/Shannon Stapleton/File Photo

NEW YORK (Reuters) - U.S. mortgage applications to buy a home rose from their lowest levels in nearly six months as most home borrowing costs were little changed last week, data from the Mortgage Bankers Association released on Wednesday showed.

The Washington-based group’s seasonally adjusted index on borrowers’ requests for home purchases to lenders, which is seen as a proxy on future housing activity, rose 2.9 percent to 232.1 in the week ended Aug. 17. The previous week’s 225.5 was the lowest reading since the one set in the week of Feb. 16.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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