Economic Buzz: US mortgage applications down 1%

Mortgage applications in the United States observed a weekly decline of 1% in the week ending on August 21, 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 went up 6.78%, improving from last week's 6.77%, while applications for home purchase mortgages retreated 0.3% and were 5% lower than in the same week of the previous year. The refinance index decreased 2% and was 18% lower compared to the same week of 2025.

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