The FINANCIAL — Mortgage applications edged up 0.1% in the week ended August 7, according to a weekly survey by the Mortgage Bankers Association.
The seasonally adjusted purchase index fell 4% from the previous week. The unadjusted purchase index, also down 4% from the previous week, was 20% higher than the year-ago period, the MBA said.
The refinance share of mortgage activity rose to 53.1% of total applications, from 51.3% the previous week, while the adjustable-rate mortgage share remained unchanged at 6.8%.
The average rate on 30-year, fixed-rate mortgages with conforming loans–with balances up to $417,000–remained unchanged at 4.13%.
Rates on 30-year, fixed-rate mortgages with jumbo-loan balances–more than $417,000–remained unchanged at 4.08%.
The average rate for 30-year, fixed-rate mortgages backed by the Federal Housing Administration fell to 3.94% from 3.96% the previous week.
The average rate for 15-year, fixed-rate mortgages rose to 3.39% from 3.36% a week earlier.