Mumbai, Oct. 9 -- Home loan applications in the U.S. declined for a second week in a row, but at a slower pace, and there was an increase in demand for the riskier adjustable-rate mortgages as homebuyers look for best deals, survey data from the Mortgage Bankers Association showed on Wednesday.
The market composite index, a measure of the house purchase mortgage loan application volume, fell a seasonally adjusted 4.7 percent in the week ended October 3 after a 12.7 percent slump in the previous week.
The MBA survey also showed that the refinance index declined 8 percent, which was much slower than the 21 percent drop in the previous week. The purchase index dropped 1 percent, same as in the previous week.
The refinance share of mortgage ...