U.S. MBA Mortgage Applications Index Increased 7% Last Week

Mortgage applications in the U.S. increased for a third straight week as purchasing and refinancing advanced.

The Mortgage Bankers Association’s index rose 7 percent in the week ended Jan. 18 after a 15.2 percent increase in the prior week, the Washington-based group reported today. The refinance gauge went up 7.7 percent and the purchase index climbed 2.5 percent.

The average rate on a 30-year fixed loan increased to 3.62 percent from 3.61 percent. The cost of a 15-year mortgage fell to 2.87 percent from 2.88 percent.

The share of applicants seeking to refinance a loan was little changed at 81.6 percent, today’s report showed.

To contact the reporter on this story: Jeanna Smialek in Washington at jsmialek1@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.