Mortgage Application Volume Rises Again

Washington, DC, Jan. 23, 2013 -- Mortgage application volume rose last week for the third week in a row, as demand for refinancings strengthened, according to the Mortgage Bankers Association.

MBA said its index of mortgage application activity rose 7% in the week ended Jan 18.

The index of refinancing applications gained 7.7%, while the gauge of loan requests for home purchases, a leading indicator of home sales, added 2.5%.

The refinance share of mortgage activity remained at 82% of applications.

Fixed 30-year mortgage rates averaged 3.62%.