According to a Fidelity Investments article, the Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 11.1 percent in the week ended Jan. 2.
Fixed 30-year mortgage rates averaged 4.01 percent in the week, down 3 basis points from 4.04 percent the week before.
While refinancing applications rose 16 percent, the gauge of loan requests for home purchases, a leading indicator of home sales, rose 4.5 percent.
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