Mortgage demand rose slightly last week as mortgage rates moved lower.

Loan application volume increased 1.6% on a seasonally adjusted basis for the week ending Aug. 30 compared to the previous week, according to the Mortgage Bankers Association (MBA).

The MBA’s refinance index decreased 0.3% from the previous week but was 94% higher than the same week in 2023. The seasonally adjusted purchase index increased 3% week over week, inching closer to last year’s levels.  

“Most mortgage rates moved lower last week, with the 30-year fixed rate edging down slightly to 6.43%,” Joel Kan, MBA’s vice president and details ⇒

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