Daenin Arnee
- MBA Mortgage Applications
- Composite Index: +1.6% vs. +0.5% a week ago.
- Purchase Index: +3.3% vs. +0.9% in the previous week.
- Refinance Index: -0.3% vs. -0.1% in the prior week.
- 30-year fixed-rate mortgages came in at 6.43%, compared to 6.44% last week.
- “Refinance applications were slightly down but continued to show strong annual gains as borrowers with higher rates have been refinancing to lower their monthly payments,” said Mortgage Bankers Association’s economist, Joel Kan.
- “The refinance share of applications averaged almost 46 percent in August, the highest monthly average since March 2022,” added Kan.
