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Mortgage applications rise over the week

Mortgage applications picked up last week after an uptick in refinances, the Mortgage Bankers Association (MBA) reported.

For the week ending June 15, MBA’s adjusted composite index rose 5.1 percent compared to the prior week. The refinance index was up 6 percent from the previous week. The adjusted purchase index increased by 4 percent from a week earlier.

The overall share of refinances jumped up 1.2 percentage points to 36.8 percent of all applications.  

The interest rate on 30-year fixed mortgages with conforming balances remained unchanged at 4.83 percent.   


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