Mortgage applications rose 1.6% on the week ending Aug. 20, moving in concert with a drop in Treasury yields, according to the latest report from the Mortgage Bankers Association.

The market composite index moved 1% on an unadjusted basis from the prior week. Refis ticked up 1% from the prior week and purchase mortgage applications jumped 3%, the trade group said on Wednesday. The purchase index was at its highest level since early July, though it was still down 16% from the same time last year.

“Treasury yields fell last details ⇒

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