Highlights
The mortgage bankers purchase index fell 7.3 percent in the Sept. 21 week to 418.8, pushing down the four-week average to 436.2. The latest results, though only one week's results, offset some of the strength seen so far in September. Note that dislocations in the mortgage market have driven some applicants to file multiple loan applications, muddying MBA's data. Existing home sales for August, data released yesterday, proved soft. New home sales for August will be released tomorrow.

The refinancing index rose 3.3 percent to 2,026.5 with refinancings making up 46.4 percent of all applications, up from 43.5 percent in the prior week. The average 30-year fixed mortgage rose 9 basis points to 6.38 percent, with 15-year mortgages up 7 basis points to 6.06 percent and 1-year adjustables down 30 basis points to 6.09 percent.