Mortgage Applications Up on Refinancing

Washington, DC, April 10, 2013 -- Mortgage application volume rose last week on stronger demand for refinancing, according to the Mortgage Bankers Association.

MBA said its index rose 4.5% in the week ended April 5.

Refinancing applications gained 6.3%. But the gauge of loan requests for home purchases fell 1.3%.

The refinance share of total mortgage activity was 75%, up from 74% the week before.

Fixed 30-year mortgage rates fell to the lowest level since late January at 3.68%.