US mortgage applications up by 11.1 percent

FXStreet (London) - US mortgage applications rose by 11.1 percent in the week ended 2 January, according to the US Mortgage Brokers Association. The gains came after falling 18.2 percent the previous week.

House purchases rose by 4.5 percent after declining 9.1 percent the previous week.

Refinancing increased by 16.0 percent after falling 24.3 percent in the prior week.

The average rate on a 30-year fixed rate mortgage fell to 4.01 percent after 4.04 percent the previous week.