Mortgage applications rose 1.2% on a seasonally adjusted basis for the week ending Dec. 4, compared to the previous week, according to the Mortgage Bankers Association.
The MBA's Market Composite Index, which measures mortgage loan application volume, rose 43% on an unadjusted basis.
Refinance application volume was 4% higher from the previous week.
Purchase apps were 0.04% higher on a seasonally adjusted basis; and increased 36% on an unadjusted basis and was 29% higher than the same week a year ago.
Refinancings as a share of all mortgage activity rose from 56.6% to 58.7% of total applications.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased 2 basis points to 4.14%. The 30-year jumbo ($417,000 or greater) fixed-rate mortgage rose 3 basis points to 4.02%.
