Mortgage applications nationwide rose 4.5 percent in the first week of January compared to the last week of December, according to the Mortgage Bankers Association.
The figure is seasonally adjusted and includes an adjustment for the New Year’s holiday. The unadjusted week-over-week gain in applications was 34.4 percent.
Much of the activity is homeowners refinancing their mortgages, the MBA said. Just over four in five applications were refinance application.
That was down slightly from the week before.The four-week moving average for the MBA’s Market Index is down 0.5 percent.
