Mortgage Application Volume Rises

Washington, DC, Sept. 18, 2013 -- Mortgage application volume rose 11% last week on a seasonally adjusted basis, according to the Mortgage Bankers Association.

The unadjusted refinance index rose 18%, while the seasonally adjusted purchase index climbed 3%.

Refinancing grew to 61% of total applications from 57% a week earlier.

The average rate on a 30-year fixed-rate mortgages fell to 4.75% from the prior week's 4.8%.