Mortgage applications surged 15.2% in the week ended Jan. 11, as both the refinance and purchase indexes soared, according to data from the Mortgage Bankers Association's weekly mortgage applications survey.
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The refinance index rose 15%, while the purchase index gained 13%.
Refinances held at 82% of volume, while adjustable-rate mortgages grew to 3% of applications.
The average 30-year fixed-rate mortgage with conforming loan balances ($417,500 or less) remained at 3.61%, while the average 15-year fixed-rate mortgages held at 2.88%.
