Conventional refis as part of the total origination market rose slightly in August, according to Ellie Mae.
Conventional refis rose three percentage points to 48% of total originations, compared to July, Ellie Mae said in its Origination Insight Report.
Purchase activity fell one percentage point to 62% in August, on a monthly basis.
Ellie Mae also reported that credit scores on closed loans fell to 724, the lowest level since February 2014.
The average 30-year rate rose to 4.31% in August from 4.29% the month prior.
