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U.S. mortgage applications rise in latest week-MBA
August 12, 2015 / 11:04 AM / 2 years ago

U.S. mortgage applications rise in latest week-MBA

NEW YORK, Aug 12 (Reuters) - Applications for U.S. home mortgages rose last week along with refinancing applications, an industry group said on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 0.1 percent in the week ended Aug.7.

The MBA’s seasonally adjusted index of refinancing applications rose 3.1 percent, while the gauge of loan requests for home purchases, a leading indicator of home sales, fell 3.5 percent.

The refinance share of total mortgage activity increased to 53.1 percent of applications from 51.3 percent the week before.

Fixed 30-year mortgage rates averaged 4.13 percent in the week, unchanged from the previous week.

The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA. (Reporting by Caroline Valetkevitch; Editing by Diane Craft)

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