US mortgage applications edged up 0.8% in the final week of August, according to the Mortgage Bankers Association, almost reversing the 1% decline seen a week earlier,.
Source: Sharecast
The slight improvement came as benchmark mortgage rates were broadly steady, with the 30‑year fixed rate nudging just one basis point higher to 4.79%, despite ongoing pressure on long‑dated Treasury yields.
Applications to refinance a mortgage, which are typically more sensitive to short‑term interest rate moves, slipped 1.1% week-on-week, while applications to purchase a home rose 2.2%.
Reporting by Iain Gilbert at Sharecast.com
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