NEW YORK – Mortgage loan application volume increased 0.6% in the week ending August 6 on a seasonally adjusted basis from a week earlier, the Mortgage Bankers Association said Wednesday. On an unadjusted basis, the index increased 0.4% in the week.
The refinance index increased 0.6% and the seasonally adjusted purchase index increased 0.3%. The unadjusted purchase index decreased 0.3% and fell 34.1% from the same week last year.
The four-week moving average for the seasonally adjusted market index rose 1.2%, while the seasonally adjusted purchase index moving average gained 1.8% and the refinance index moving average increased 1.0%.
Refinancings were 78.1% of mortgage activity, up 78.0% the previous week, while adjustable-rate mortgages (ARM) accounted for 5.9% of applications, up from 5.4% the prior week.
The average 30-year fixed-rate mortgage was at 4.57%, down from 4.60% the previous week, while 15-year fixed rates were averaging 3.95%, down from 4.03% a week earlier, and one-year ARMS were at 7.00%, off from 7.10% in the prior week.
