Mortgage applications increased 2.8% for the week ending Aug. 6, and there are signs that at least some first-time homebuyers are finding opportunities despite high home prices.

Ten-year Treasury yields rose slightly at the end of last week after the July jobs report exceeded expectations. That was enough to drive mortgage rates up slightly to 3.08%, according to the latest report from the Mortgage Bankers Association. Rates have struggled to surpass 3% for most of this year.

“Mortgage applications rebounded last week, including an increase in purchase applications for the details ⇒

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