According to the S&P/Case-Shiller Home Price Index, national home prices jumped 3.6% in the past year. Prices also climbed 4.4% in the second quarter compared with a 2.8% plunge in the first quarter.
The Mortgage Bankers Association’s (MBA) Market Composite Index, a measure of mortgage loan application volume, increased 2.7% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 2.3% compared with the previous week.
The Consumer Confidence Index rose to 53.5 in August, from July’s upwardly revised level of 51.0, the Conference Board, a New York-based research group that compiles the index, said yesterday.