Mortgage Applications Rise as Rates Fall
Washington, DC, Sept. 4, 2013 -- Mortgage application volume rose for the first time in four weeks as mortgage rates fell, according to the Mortgage Bankers Association.
MBA said its seasonally adjusted index of mortgage application activity rose 1.3% in the week ended Aug. 30, after falling 2.5% the previous week.
Thirty-year mortgage rates fell to 4.73% from 4.80% the previous week, which was its highest this year.
The refinance share of mortgage activity increase to 61% from 60% the previous week, while requests for home purchases fell 0.4%.