Mortgage Purchase Applications at 3 Year High

Washington, DC, April 17, 2013 -- Mortgage application volume rose 4.8% last week as interest rates declined, the Mortgage Bankers Association said.

The refinance index increased 5% for the week ended April 12 from the previous week to reach its highest level since mid-January.

The purchasing index was up 4% from the prior week and was at its highest level since May 2010.

Refinancing made up 75% of all applications.

The average rate on a 30-year fixed-rate mortgage edged down to 3.67% from 3.68%.


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