Mortgage applications increase

The Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending January 13 showed an increased of 23.1 percent from the week earlier.

The purchase index increased 1.96 percent for the week, and the refinance index grew 7 percent. The refinance share of the mortgage activity increased to 82.2 percent from 80.8 percent, the highest refinance share since October 22, 2010.

In addition, the National Association of Home Builders Housing Market Index found builder confidence increased for the fourth consecutive month in January, marking the highest level since June 2007.

“This good news comes on the heels of several months of gains in single-family housing starts and sales, and is yet another indication of the gradual but steady improvement that is beginning to take hold in an increasing number of housing markets nationwide - and that has been shown by our Improving Markets Index," said NAHB Chairman Bob Neilsen. "Policymakers must now take every precaution to avoid derailing this nascent recovery.”

More News