U.S. mortgage applications fall as rates push higher: MBA

(Reuters) - Applications for U.S. home borrowings dropped for a second straight week and higher interest rates decreased refinancing activity, facts and figures from an commerce group showed on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage submission activity, which encompasses both refinancing and dwelling buy demand, dropped 4.6 per hundred in the week ended August 16.

The down turn came as 30-year mortgage rates increased 12 basis points to 4.68 percent, equivalent the year's high first strike in July.

Interest rates spiked in late May after the Federal Reserve indicated it could start climbing back its $85 billion in monthly bond purchases by the end of the year, with investors now betting it could happen as shortly as September.

Prospects of the Fed tapering its incentive has made economic markets jittery. This week, U.S. standard 10-year Treasury yields strike a two-year high of 2.9 per hundred, more than a percentage issue overhead their level in May.

Demand to refinance living loans has turned down as rates have ascended. The refinance catalogue lost 7.7 per hundred last week, its large-scale every week drop since late June, and is down 62.1 per hundred since peaking in the week ending May 3. The refinance share of total mortgage undertaking fell to 62 per hundred from 63 per hundred the former week.

Rates stay equitably low by chronicled standards, however, and the measure of lend requests for home buys, a premier sign of home sales, rose 1.2 per hundred, after dropping 5.4 per hundred the previous week.

The survey wrappings over 75 per hundred of U.S. retail residential mortgage applications, according to MBA.

MBA student, friend robbed of scooter

BANGALORE: Unidentified muggers stolen a Meghalaya-based MBA scholar and her ally of a gearless scooter in Hennur main road, Banasawadi in the early hours of Wednesday.

Victim Lhichui, resident of Prakruti layout beside Hennur cross and scholar with Jain school, Jayanagar, was travelling back dwelling from Brigade street after purchasing petrol for her classmate Iliyaz, when the mugging took location, Banasawadi policeman said.

previous on Tuesday night, Lhichui along with her friend Kene Zao, a musician, took part in a party at her house. round midnight, her ally Iliyaz, who lives in Banashankari, found that there was no sufficient gasoline in his bike to travel back dwelling.

"Kene Zao said one gasoline bunk near Brigade street will be open. Accordingly, Lhichui and Kene went to bunk, conveyed gasoline around 2.50am," policemanmanman said.

While riding back dwelling, two unidentified men halted them near Hennur traverse. "They talked in Hindi and suddenly assaulted Kene with an iron rod. Kene was not wearing helmet and maintained head injuries," policeman added.

Then the mugger duo raced away with the Honda Activa (TN 30 F 9831).

although, police state Kene and Lhichui make at odds declarations. "Both Lhichui and Kenny were in inebriated status and we have subjected them to medical test," police supplemented.

ISB introduces early application option for MBA aspirants with nil or reduced work know-how

KOLKATA: The Indian School of Business (ISB), with campuses at Hyderabad and Mohali, which lately launched the "Early application choice" for its flagship mail graduate programme in administration (PGP), conceived to address the increasing demand for administration education from gifted fresh graduates/ mail graduates and those with less than two years' of work know-how.

Candidates selected through the 'Early application Option', will protected a deferred admission to the one-year PGP at the ISB, contingent upon culmination of 24 months of work experience at the time of connecting the programme. By securing their admission, aspirants can then aim their vigilance on gaining valuable work know-how, maximizing learning and self-awareness and in addition to chasing their co-curricular concerns and passions, thereby bringing larger exposure and insights when they really join the PGP.

More than 800 applicants have currently registered under the Early Entry choice for the Class of 2015 on the ISB's admission portal. The process of assortment will be alike to that of the post graduate programme