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%.