Mortgage applications increased 2.8% from one week earlier, according to the Mortgage Bankers Association.
The MBA's Weekly Mortgage Applications Survey for the week ending Aug. 26 found that the refinance index increased 4%
The seasonally adjusted purchase index increased 1% from one week earlier, while the unadjusted purchase index decreased 1% compared with the previous week and was 5% higher than the same week one year ago.
The adjustable-rate mortgage share of activity decreased to 4.5%, while the Federal Housing Administration share increased to 9.7% from 8.9%.
The VA share of total applications increased 1 basis point to 12.5% and the USDA share remained unchanged at 0.6%.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) remained unchanged at 3.67%.
The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) increased 1 basis point to 3.63%.
The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 3.54% from 3.53%, while for 15-year fixed-rate mortgages, the average increased to 2.96% from 2.95%.
The average contract interest rate for 5/1 ARMs increased 6 basis points to 2.9%.
