Mortgage applications rose last week: MBA

NEW YORK Wed Mar 23, 2011 7:12am EDT

A home for sale in Los Angeles, October 25, 2010. REUTERS/Lucy Nicholson

A home for sale in Los Angeles, October 25, 2010.

Credit: Reuters/Lucy Nicholson

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NEW YORK (Reuters) - Applications for U.S. home mortgages ticked higher last week, while demand for refinancing rose for the third week in a row, an industry group said on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 2.7 percent in the week ended March 18.

The MBA's seasonally adjusted index of refinancing applications and the gauge of loan requests for home purchases both rose 2.7 percent.

Fixed 30-year mortgage rates averaged 4.80 percent, edging up from 4.79 percent the week before. (Reporting by Leah Schnurr; Editing by Diane Craft)

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