Us mortgage applications up

US mortgage applications increased at the start of December, according to the Mortgage Bankers Association.

The MBAA's latest report shows that applications increased 7.3 per cent in the week ending 5th December 2014 from one week earlier.

The Market Composite Index, a measure of mortgage loan application volume, increased 7.3 per cent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index increased 52 per cent compared with the previous week.

The refinance share of mortgage activity increased to 64 per cent of total applications from 60 per cent the previous week.  The adjustable-rate mortgage (ARM) share of activity increased to 7 per cent of total applications.