Freddie Mac said the average rate on 30-year fixed-rate increased to 8.36% from 8.25% last week for the week ended Feb. 11.

In the 15-year sector, fixed-rate mortgages increased to 7.96% from the prior week's 7.85%. A year ago, the rate was 6.40%.

The rate for one-year Treasury-indexed adjustable-rate mortgages averaged 6.73%, up from last week's average of 6.65%. A year ago, this rate was 5.58%.

Refi Index Increases

The MBA refinancing index increased to 436.7 for the week ending Feb. 11, up from 384.4 the previous week.

Mortgage loan applications increased 12.1% from the prior week and refinancings made up 19.6% of the total volume, increasing from last week's 19.3%.

Meanwhile, the MBA's home purchase index increased to 307.1 from 292.6 the prior week. Base period for all indexes, 3/16/90=100.

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