NEW YORK (Reuters) - U.S. mortgage application activity climbed to its strongest level in nearly four months even as borrowing costs on 30-year home loans jumped to their highest almost three years, Mortgage Bankers Association data released on Wednesday showed.
The Washington-based industry group said its measure on mortgage applications rose 3.1 percent to 418.1 in the week ended March 10. This was the highest level since 460.30 in the week ended Nov. 18.