According to the US Mortgage Bankers Association (MBA) mortgage application survey, the market index of mortgage application activity, which includes seasonally adjusted, refinancing and purchase loans, increased by 5.4 percent to 192.1 points.

According to the weekly report published by MBA and shared with Foreks News via e-mail, the purchase index increased by 2.3 percent to 147.0 points, while the refinancing index increased by 13.2 percent to 415.4 points.

In the week in question, the 30-year mortgage rate increased by 4 basis points to 7.31 percent. While the 30-year loan rate remained unchanged in the 4-week average, the increase compared to the same period last year was 106 points.

The 15-year rate fell 10 basis points to 6.62 percent. In the 5-year ARM loan rate, the rate decreased by 17 basis points to 6.42 percent. The 30-year jumbo (larger than $647,200) loan rate increased by 7 basis points to 7.32 percent.