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More Americans Apply For Home Loans

UNITED States mortgage applications rose last week, as demand for home purchase loans jumped even as interest rates edged up from recent record lows, data from an industry group showed yesterday.

Demand for home purchase loans, an indication of home sales, far outweighed demand for refinancing. The rise may help gauge what's in store for the hard-hit US housing market this spring, the peak home buying season.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended on Friday increased 4.7 percent to 1,250.6.


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