UPDATE 1-U.S. mortgage activity slumps on rising borrowing costs - MBA
July 12, 2017 at 12:16 PM EDT
NEW YORK, July 12 (Reuters) - U.S. mortgage application activity recorded its steepest drop since December as interest rates on 30-year fixed-rate home loans climbed to their highest level in nearly two months, Mortgage Bankers Association data released on Wednesday showed.