U.S. mortgage-application volume rose last week, for the first time in four weeks, the Mortgage Bankers Association of America today announced.
For the week ending Aug. 4, the group’s Market Composite Index (a measure of application volume) was 553.3, up a seasonally-adjusted 4.9 percent from the previous week’s score of 527.6.
The seasonally adjusted Purchase Index was 388.9, the group said, up 3.4 percent from its 376.2 level in the week ending July 28.
Interest rates declined last week, the report noted. The average contract interest rates in the weekly survey were:
for 30-year fixed-rate mortgages, 6.45 percent, down from the preceding week’s 6.62 percent
for 15-year fixed-rate mortgages, 6.10 percent, down from the preceding week’s 6.28 percent
for 1-year adjustable-rate mortgages, 5.96 percent, down from the preceding week’s 6.18 percent
The full survey report is available online at
www.mortgagebankers.org
.
