Economic Buzz: US mortgage applications down 0.4%

Mortgage applications in the United States declined 0.4% on a weekly basis in the week ending August 14, according to the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey published on Wednesday.

The average contract interest rate for 30-year fixed-rate mortgages was unchanged at 6.77% compared with the week prior, while applications for home purchase mortgages declined 2% in the reported seven-day period and were 3% lower than the same week in 2025. The refinance index climbed 2% but was 18% lower than the same week a year before.

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