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.
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