Mortgage Applications Surge Last Week

Washington, DC, March 5, 2014 -- Mortgage applications rebounded last week to climb 9.4% from one week earlier, according to the Mortgage Bankers Association.

The previous week applications hit a two-decade low.

The refinance index increased 10% from the previous week, although it is still 3% lower than it was two weeks ago.

The refinance share of applications decreased to 57.7% of total applications from 58% the previous week.

The seasonally adjusted purchase index increased 9% from one week earlier.

The interest rate for a 30-year fixed-rate mortgage decreased to 4.47% from 4.53%.

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