U.S. mortgage applications continued to rise last week, boosted by strong refinancing demand, industry data showed Wednesday. However, unusually low interest rates failed to produce much demand for home purchase applications, signaling weakness in the housing market.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, rose 4.1 percent in the week ended August 12.
Refinancing rose 8 percent to its highest in nine months, but loan requests for home purchases dropped 9.1 percent.
Fixed 30-year mortgage rates averaged 4.32 percent, down from 4.37 percent the week before.
Refinancing made up 78.8 percent of total applications, compared to 75.6 percent the week before.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.