Mortgage Application Volume Up on Refinancing

Washington, DC, April 16, 2014 -- Mortgage application volume rose 4.3% last week from the week before, according to the Mortgage Bankers Association’s weekly survey.

The Market Composite Index increased 4.3% on a seasonally adjusted basis from one week earlier.

The refinance index rose 7% while purchase index rose 1%.

The refinance share increased to 52% of total applications from 51% the previous week.

The average interest rate for 30-year fixed-rate mortgages decreased to 4.47% from 4.56%.

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