Mortgage applications climb, as rates hold steady

The number of mortgage applications for the week ending January 18, 2013 increased 7 percent on a seasonally adjusted basis from the week ending January 11, 2013, the Mortgage Bankers Association announced today. The Refinance Index increased 8 percent from the previous week on a seasonally adjusted and unadjusted basis. The seasonally adjusted Purchase Index increased 13 percent from one week earlier to the highest level since April 2011. Unadjusted, the Purchase Index increased 3 percent to its highest level since May of 2010, immediately following the expiration of the homebuyer tax credit. [more]