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Mortgage apps jumped last week

WASHINGTON -- Mortgage applications in the United States rebounded last week after three straight declines, as purchases and refinancing advanced.

The Mortgage Bankers Association’s index increased 11.7 percent in the week ended Jan. 4, after a 10.4 percent slump the prior period, the Washington-based group reported Wednesday.

The refinance gauge gained 12.1 percent and the purchase index climbed 9.6 percent.

The average rate on a 30-year fixed loan rose last week to 3.61 percent from 3.52 percent.

The cost of a 15-year mortgage increased to 2.88 percent from 2.86 percent a week earlier.

The share of applicants seeking to refinance a loan was little changed at 82 percent, Wednesday’s report showed.

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