Home loan application volume crept up another 2.3 percent last week, according to the Mortgage Bankers Association.
The association’s Market Composite Index, a measure of mortgage application volume, hit 915.9 during the week compared to 895.6 the prior week. The week’s volume was 42 percent greater than the same week a year ago.
The MBA said refinance loans made up 73.6 percent of all mortgage activity, up from 71.9 percent the prior week. The average 30-year fixed rate mortgage interest rate was 4.69 percent, down from 4.76 percent a week earlier.
