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The Mortgage Bankers Association said its
seasonally adjusted index of mortgage application activity,
which includes both refinancing and home purchase demand, rose
2.3 percent in the week ended April 17.
The MBA's seasonally adjusted index of refinancing applications
rose 0.6 percent, while the gauge of loan requests for home
purchases, a leading indicator of home sales, rose 5.0 percent
to its highest level since June 2013.
The refinance share of total mortgage activity fell to 56
percent of applications, its lowest level since October, from 58
percent the week before.
Fixed 30-year mortgage rates averaged 3.83 percent in the week,
the lowest level since January. They were down 4 basis points
from 3.87 percent the previous week.
The survey covers over 75 percent of U.S. retail residential
mortgage applications, according to MBA.
(Reporting by Caroline Valetkevitch; editing by Diane Craft)
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