Mortgage Activity Climbs with Rates Low

The Mortgage Bankers Association said its Market Composite Index rose 11.3 percent while the Refinancing Index rose 17 percent on a seasonally adjusted basis in the week.

During the week, the average interest rate for 30-year, fixed-rate mortgages fell from 4.83 percent to 4.8 percent with points unchanged at 1.08.

Rates for the average 15-year, fixed-rate mortgage rose from 4.19 percent to 4.25 percent, with points for 15-year contracts falling from 1.36 to 1.

For one-year, adjustable-rate mortgages, the average interest rate rose from 6.81 percent to 6.83 percent with points rising from 0.37 to 0.38, the MBA said.