Mortgage Application Volume Rises Last Week

Washington, DC, Sept. 12, 2012 -- Mortgage application volume rose last week as demand for refinancing and new loans both increased, according to the Mortgage Bankers Association.

MBA said its seasonally adjusted index of mortgage application activityrose 11.1% in the week ended Sept 7.

Refinancing applications rose 11.9%, while purchase applications rose 8.1%.

The refinance share of total mortgage activity increased to 80% of applications from 79% the week before.

Fixed 30-year mortgage rates averaged 3.75%.