NEW YORK (Reuters) - U.S. mortgage applications decreased in the latest week as 30-year home borrowing costs rose near their seven-year peaks prompted by a selloff in U.S. bond market, the Mortgage Bankers Association said Wednesday.
The Washington-based group's seasonally adjusted gauge on overall home loan applications fell 1.5 percent to 365.3 in the week ended June 8.
Interest rates on 30-year fixed-rate "conforming" home loans, whose balances are $453,100 or less, jumped to 4.83 percent from 4.75 percent the previous week. Three weeks ago, it was at 4.86 percent, the highest since April 2011, according to MBA data.