Mortgage Applications Rise on Purchase Activity

Washington, DC, Jan. 11, 2012 -- Mortgage application volume rose last week as demand for both purchases and refinancing picked up, according to the Mortgage Bankers Association.

MBA said its index of mortgage application activity, which includes both refinancing and home purchase demand, rose 4.5% in the week ended Jan 6.

The MBA's seasonally adjusted index of refinancing applications gained 3.3%, while the gauge of loan requests for home purchases climbed 8.1%.

The refinance share of total mortgage activity decreased to 80.8% of applications from 81.9% the previous week.

Fixed 30-year mortgage rates averaged 4.11% in the week, up from 4.07%.