The Mortgage
Bankers Association (MBA) reported on Wednesday the mortgage application volume
in the U.S. fell 0.1 percent in the week ended September 13, following a 2.0
percent advance in the previous week.
According to
the report, applications to purchase a home rose 6 percent, while refinance
applications fell 4 percent.
Meanwhile, the
average fixed 30-year mortgage rate increased to 4.01 percent from 3.82
percent.
“New home
purchase activity was robust in August, as both mortgage applications and
estimated home sales increased from a year ago,” said Joel Kan, MBA’s Associate
Vice President of Economic and Industry Forecasting. “Recent increases in new
residential housing permits and housing starts, lower mortgage rates, and a
still-strong job market all bode well for the new home sales outlook.”