The total volume of mortgage applications submitted in the week ending August 6 ticked up a seasonally adjusted 0.6% from the previous week as interest in both refinance and purchase mortgages remained essentially flat, according to the Mortgage Bankers Association (MBA). The total volume of applications for purchase mortgages is now 34.1% below the same time last year, MBA said. At the same time, a separate survey measuring household mortgage application rose 1.4%. MBA found the volume of applications submitted for purchase mortgages rose 0.3% after the previous week’s 1.5% growth. This fourth weekly gain was driven by rising interest in mortgages insured by the government (through FHA and VA). The volume of applications submitted for refinance ticked up 0.6% after rising 1.3% last week. The refinance share of mortgage application activity ticked up to 78.1%, from 78% last week. The Mortgage Maxx index, which adjusts data to reflect the number of households applying for a mortgage, showed household application activity rose 1.4% after slipping 2.9% the week before. Write to Diana Golobay.

About the Author

Most Popular Articles

Freddie Mac: Mortgage rates reverse course from last week’s low

This week, the average U.S. fixed rate for a 30-year mortgage jumped to 3.69%. That’s still more than a percentage point lower than the 4.85% of the year-earlier week.

Oct 17, 2019 By

Latest Articles

Embrace Home Loans names new senior vice president, retail and direct sales

Embrace Home Loans, a Rhode Island-based mortgage lender, announced this week that longtime employee Ryan “Buddy” Hardiman is being promoted to senior vice president of retail and direct sales.

Oct 18, 2019 By