Mortgage applications rise 0.8%, ARM share now at 8%

Mortgage applications increased 0.8% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey for the week ending August 28, 2026. On an unadjusted basis, the index decreased 1% compared with the previous week. The refinance index decreased 1% from the previous week and was 19% lower than the same week one year ago. The refinance share of mortgage activity decreased to 41.8% of total applications from 42.0% the previous week. The seasonally adjusted purchase index increased 2% from one week earlier. The unadjusted purchase index decreased 0.3% compared with the previous week and was 0.2% lower than the same week one year ago. “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 SVP and chief economist. “Refinance volume dropped in response, but purchase volume increased modestly over the week and was slightly below last year’s level. In many local markets, potential buyers have plenty of homes to choose, and this is likely supporting transaction volume. Another trend we’re monitoring is ...