Mortgage Application Volume Rises Last Week

Washington, DC, Aug. 1, 2012 -- Mortgage application volume rose last week as demand for refinancing edged up, according to the Mortgage Bankers Association.

MBA said its seasonally adjusted index of mortgage application activity rose 0.2% in the week ended July 27.

The seasonally adjusted index of refinancing applications rose 0.8%, while the index of purchase applications fell 2.1%.

The refinance share of total mortgage activity rose to 81.2% of applications from 80.8% the week before.

Fixed 30-year mortgage rates averaged 3.75% in the week, up from 3.74% the week before.