FAP, June 14-applications for home mortgages in the United States have increased for the first time since early May due to a drop in lending rates. Data released on Wednesday showed that the MBA home application index rose 7.6% to a four-week high of 163.2 in the week ended June 9. In addition, the overall index of mortgage applications rose 7.2 per cent, the biggest weekly increase in three months, thanks to an increase in refinancing. The contract rate on 30-year fixed-rate mortgages fell 4 basis points to 6.77 per cent. The refinancing index rose 6%.