Mortgage Applications Up on Refinancing

Washington, DC, Oct. 16, 2013 -- Mortgage application volume rose slightly last week as increased refinancing offset lower demand for purchase loan, according to the Mortgage Bankers Association.

MBA said its seasonally adjusted index of mortgage application activity rose 0.3% in the week ended Oct. 11.

The refinancing index gained 3.3% while loan requests for home purchases fell 4.8%.

MBA said 30-year mortgage rates edged up 4 basis points to 4.46%.

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