Mortgage applications in the United States increased 1.3 percent, said the Mortgage Bankers Association.
The industry group also said that the Market Composite Index, which measures the mortgage loan application volume, rose to 1.3 percent on a seasonally adjusted basis from the previous week, when it declined 4.2 percent.
According to the report, the seasonally adjusted Purchase Index also rose 6.8 percent from a week earlier.
Michael Fratantoni, MBA’s vice president for research and economics, said: “Purchase applications have increased over the past month, and are now at their highest level since last October when many homebuyers were rushing to get loans closed before the expected expiration of the homebuyer tax credit.”
“We may be seeing a similar pattern now, as the extended version of the tax credit ends next month,” he added.