Mortgage applications up for second straight week, interest rates rise slightly

The number of mortgage applications for the week ending January 11, 2013 increased 15.2 percent on a seasonally adjusted basis from the week ending January 4, 2013, the Mortgage Bankers Association announced today. The Refinance Index increased 15 percent from the previous week. The seasonally adjusted Purchase Index increased 13 percent from one week earlier to the highest level since April 2011. Unadjusted, the Purchase Index increased 47 percent compared with the previous week and was 5 percent higher than the same week one year ago. [more]