Mortgage Aps Increase Another Positive Sign We Are Near/At Bottom?

ortgage aps have risen across the U.S. in the last week of January, reflecting a jump in demand for home refinancing loans even as interest rates rose to their highest levels since early December. This is conjunction with the recent jump in home sales volume recently reported for Dec.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications ,which includes both purchase and refinance loans, for the week ended Jan. 30 increased 8.6 percent to 795.4 after slumping 38.8 percent during the previous week.

Borrowing costs on 30-year fixed-rate mortgages, excluding fees, averaged 5.28 percent, up 0.06 percentage point from the previous week.

Three weeks earlier, mortgage rates were 4.89 percent, the lowest level recorded since the MBA survey began in 1990.