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U.S. weekly mortgage applications increase

The Mortgage Bankers Association (MBA) reported on Wednesday the mortgage application volume in the U.S. rose 2.0 percent in the week ended September 6, following a 3.1 percent drop in the previous week.

According to the report, applications to purchase a home rose 5.0 percent, while refinance applications increased 0.4 percent.

Meanwhile, the average fixed 30-year mortgage rate decreased to 3.82 percent from 3.87 percent.

Refinances were essentially unchanged, but August overall was the strongest month of activity so far in 2019,” noted Joel Kan, an MBA economist.

 

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