Mortgage Application Volume Edges Higher

Washington, DC, Aug. 27, 2014 -- Mortgage application volume last week increased 2.8% from the previous week, according to the Mortgage Bankers Association.

Refinancing applications rose 3% but were down 25% from a year ago. It was the highest level in more than two months. The Purchase Index also increased 3% over the previous week but was down 11% from a year ago.

For the week, the average interest rate for 30-year fixed-rate mortgages decreased to 4.28% from 4.29%.