Mortgage Applications Up on Lower Rates

Washington, DC, March 27, 2013 -- Mortgage application volume last week rose as interest rates edged down, the Mortgage Bankers Association said.

The index rose 7.7% on a seasonally adjusted basis for the week ended March 22 from the previous week.

The refinance index rose 8% while the purchasing index rose 7% from a week earlier.

Refinancing applications accounted for 75% of the volume, unchanged from the previous week.

The average rate on 30-year fixed-rate mortgages fell to 3.79% from 3.82% in the prior week.


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