Mortgage applications rise on increases in refinancing, purchases

by Vicki Needham - 01/11/12 3:28 PM ET

The refinance share of mortgage activity decreased to 80.8 percent of total applications from the prior week’s survey high of 81.9 percent.

On 30-year fixed-rate mortgages, the average contract interest rate for loans with conforming balances ($417,500 or less) increased to 4.11 percent from 4.07 percent.

The rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,500) decreased to 4.34 percent from 4.41 percent.

A 30-year fixed loan backed by the Federal Housing Administration remained unchanged, at 3.96 percent, while the 15-year rate increased to 3.40 percent from 3.37 percent.

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