US Housing Recovery Remains Strong Despite Stock Market Swings, China's Swoon

While many investors are trying hard to ignore the recent stock market turmoil, a growing number of American homeowners are capitalizing on the chaos. Mortgage loan applications for the week ended Aug. 28 ticked up 11.3 percent compared with the week prior, according to a Mortgage Bankers Association report released Wednesday.

In a wildly volatile week for U.S. stocks, refinances jumped 17 percent, hitting their highest level since April.