Home mortgage applications hit highest level since June

U.S. loan application activity for home purchases rose last week to its highest since early June even as borrowing costs increased for the first time in four weeks, according to Mortgage Bankers Association data released Wednesday.

The Washington-based industry group said its seasonally adjusted measure of home mortgage applications rose to 243.2 in the week ended on Jan. 20, up 6.0 percent from the previous week. READ MORE

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