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Mortgage apps increase

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WASHINGTON -- Mortgage applications in the United States rose last week to a one-month high, as purchases and refinancing accelerated.

The Mortgage Bankers Association’s index climbed 11.9 percent in the period ended Jan. 10, the biggest gain since March 2013, the Washington-based trade group reported Wednesday.

The refinance measure advanced 11.2 percent, while the purchase gauge rose 11.5 percent to a seven-week high.

The average rate on a 30-year fixed loan fell to 4.66 percent from 4.72 percent the previous period.

The average rate on a 15-year mortgage dropped to 3.72 percent from 3.77 percent.

The share of applicants seeking to refinance declined to 62.3 percent from 63.3 percent in the previous period, according to the report.

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