The volume of mortgage applications in the US softened by 0.5% from the previous week in the third week of August, extending the 1.4% trim from the prior month after the combined 14% jump in the two weeks before, according to data from the Mortgage Bankers Association. The small decrease was consistent with the 1bps edge-up in the benchmark 30-year mortgage rate, as long-dated Treasury securities held their jumps on pro-inflationary data released in leading indicators. Applications for a contract to refinance an existing mortgage fell by 3.5% offsetting the 2.2% increase in applications for a mortgage to buy a new home.