The Mortgage Bankers Association (MBA) reported an increase in both refinance and purchase activity in the week ending April 15 with applications up 5.3% overall.

“Purchase application volume jumped last week largely due to another sharp increase in applications for government loans," said Michael Fratantoni, vice president of research and economics at the MBA. "Borrowers were likely motivated to apply for loans before the scheduled increase in FHA insurance premiums. Refinance activity increased somewhat, as rates dropped to their lowest level in a month towards the end of the week.”

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