MBA US Mortgage Applications Rebound in Week Ended Aug. 28 Despite Higher Mortgage Rates

07:05 AM EDT, 09/02/2026 (MT Newswires) -- Mortgage applications rebounded by 0.8% in the week ended Aug. 28 despite a further increase in average 30-year fixed mortgage rates, according to Mortgage Bankers Association data released Wednesday. This follows a 1% decrease in overall activity in the week ended Aug. 21. Applications for refinancing loans fell by 1%, while new purchase applications rose by a seasonally adjusted 2%. The average contract interest rate for 30-year fixed mortgages with loan balances of $832,750 or less rose to 6.79% from 6.78% in the previous week. "Mortgage rates reached their highest levels in four weeks as investors' concerns about inflation and growing deficits push yields higher across the globe," said Mike Fratantoni, MBA's senior vice president and chief economist. "Refinance volume dropped in response, but purchase volume increased modestly over the week and was slightly below last year's level."