Mortgage Applications Rise as Rates Also Climb Higher

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Potential buyers crept back into the U.S. housing market last week as applications for mortgages edged up, even though rates resumed their ascent, data from an industry group showed on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 0.2 percent in the week ended Aug 2.

The gauge of loan requests for home purchases, a leading indicator of home sales, was stronger, adding 0.7 percent after falling in four of the past five weeks.

Read the full report here.