Mortgage applications rose 4.8% in the week ending March 30 with both refinancing and purchase activity higher.

The Mortgage Bankers Association (MBA) reported that the Refinance Index rose for the first time in six weeks by 4.0% to ~3576. However, as a percent of total applications, refinancing share slipped to 71.2% from 71.9% and is at its lowest level since late July 2011.

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