The VA

Higher levels of purchase activity even with rising interest rates drove the increase in mortgage applications compared with one week earlier.

With 30-year mortgage rates reaching a four-year high, loan application activity was lower this past week, according to the Mortgage Bankers Association.

Rising rates, largely tied to the stock market turmoil, took their toll on mortgage application volume during the past week.

Even as rates hit their highest levels in nearly four years, mortgage application volume increased compared with one week earlier, according to the Mortgage Bankers Association.

Rising rates suppressed total mortgage application activity, which decreased 2.6% from one week earlier, according to the Mortgage Bankers Association.

Purchase loan applications were at their highest level in nearly eight years because of rising interest rates, according to the Mortgage Bankers Association.

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Even as mortgage rates rose to their highest level since March, application activity increased from one week earlier, according to the Mortgage Bankers Association.

Loan applications for newly constructed homes slowed on a month-to-month basis in December as the storm-driven spike in volume ended.