Mortgage applications rise on increases in refinancing, purchases

The refinance share of mortgage activity decreased to 80.8 percent of total applications from the prior week's survey high of 81.9 percent. 

On 30-year fixed-rate mortgages, the average contract interest rate for loans with conforming balances ($417,500 or less) increased to 4.11 percent from 4.07 percent. 

The rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,500) decreased to 4.34 percent from 4.41 percent.

A 30-year fixed loan backed by the Federal Housing Administration remained unchanged, at 3.96 percent, while the 15-year rate increased to 3.40 percent from 3.37 percent.