Let us take a look at the latest numbers from @MBAmortgage. Breaking a downward trend following two weeks of declines, overall mortgage applications grew by 0.8% for the week ended August 28. Concurrently, the ARM share of mortgage activity experienced an increase to 8.0%, establishing a new five-week high. Finally, borrowing costs shifted slightly, with the 30y mortgage rate edging up to 6.79% compared to the prior level of 6.78%.