Mortgage Applications Off in Oct. 22 Week NEW YORK (Reuters) - New applications for U.S. home loans fell last week even as average 30-year mortgage rates decreased from the previous week, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted market index, a measure of mortgage activity, fell 0.8 percent to 703.9 for the week ended on Oct. 22, from the previous week's 709.9. Thirty-year mortgage rates, excluding fees, averaged 5.54 percent, down 0.10 percentage point from the previous week and 0.29 percentage point lower than a year ago, the Washington trade group said. The MBA's seasonally adjusted index on new refinancing applications rose by 3.6 percent to 2,233.8 for last week from the previous week's 2,155.2. The association's purchase index, a gauge of new loan requests for home purchases, fell by 4.4 percent last week to 440.9 from 461.4 in the prior week. Quelle "Mortgage Applications Off in Oct. 22 Week" : reuters.com Main page for "Mortgage Applications Off in Oct. 22 Week"