Mortgage applications rose 2.3% compared to last week, but this was a sharp increase of over 42% compared with the same week a year ago.
Refinance applications had risen 4.5% last week, compared to the previous week. However, the four week moving average for all mortgages was down over 6%.
Mortgage rates decreased again last week, with 30 year fixed mortgage rates averaging around 4.7% while the 15 year fixed mortgage rates averaged around 4.45%.
