The Mortgage Bankers Association said its
seasonally adjusted index of mortgage application activity,
which includes both refinancing and home purchase demand, rose
0.2 percent in the week ended Aug. 29.
The MBA's seasonally adjusted index of refinancing applications
rose 1.4 percent, while the gauge of loan requests for home
purchases, a leading indicator of home sales, fell 1.5 percent.
Fixed 30-year mortgage rates fell to their lowest level since
June 2013, averaging 4.25 percent in the week, down 3 basis
points from 4.28 percent the week before.
The survey covers over 75 percent of U.S. retail residential
mortgage applications, according to MBA.
(Reporting by Caroline Valetkevitch; Editing by Diane Craft)
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