September 14, 2011 / 12:07 PM / 7 years ago

Mortgage applications rose last week: MBA

NEW YORK (Reuters) - Applications for U.S. home mortgages rose last week for the first time in a month as interest rates tumbled even further, an industry group said on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 6.3 percent in the week ended September 9 compared to the week before.

The MBA’s seasonally adjusted index of refinancing applications gained 6.0 percent, while the gauge of loan requests for home purchases climbed 7.0 percent.

The refinance share of mortgage activity rose to 77.3 percent of total applications from 77.1 percent.

Reporting by Leah Schnurr; Editing by Diane Craft

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