Bloomberg News

Mortgage Applications in U.S. Jump After Three-Week Decline

January 09, 2013

Mortgage applications in the U.S. rebounded last week after three straight declines as purchases and refinancing advanced.

The Mortgage Bankers Association’s index increased 11.7 percent in the week ended Jan. 4 after a 10.4 percent slump the prior period, the Washington-based group reported today. The refinance gauge gained 12.1 percent and the purchase index climbed 9.6 percent.

The average rate on a 30-year fixed loan rose last week to 3.61 percent from 3.52 percent. The cost of a 15-year mortgage increased to 2.88 percent from 2.86 percent a week earlier.

The share of applicants seeking to refinance a loan was little changed at 82 percent, today’s report showed.

To contact the reporter on this story: Michelle Jamrisko in Washington at mjamrisko@bloomberg.net

To contact the editor responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net


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