Weekly Mortgage Applications Hit 2-Month High

Applications for U.S. mortgage loans jumped to a two-month peak in the latest week, according to the Mortgage Bankers Association.

The MBA’s mortgage application index rose 1.6% to a reading of 390.0 in the week ended March 15, the highest point since the week of Jan. 18. Meanwhile, 30-year fixed-rate mortgages averaged 4.55%, the lowest rate in six weeks. Refinancing was more popular in the wake of lower rates, with the refinance application index rising 3.5% and the total share of refinance request increasing to 39.3% from 38.6% the week before.