Mortgage Applications Fall To 13-Year Low

(Undated) -- Applications for home mortgages are the lowest in 13 years after falling for the second straight week. The Mortgage Bankers Association says mortgage rates, meanwhile, continue to climb. The rate on a 30-year fixed rate mortgage averaged four-point-64 percent last week. That's two basis points higher than the week before but still short of September's two-year high of four-point-eight percent.