The association said mortgage activity rose 0.2 percent in the week, while refinancing activity rose 0.3 percent from the previous week.
Interest rates for 30-year, fixed-rate conforming mortgages decreased from 3.67 percent to 3.65 percent during the week. Points for 30-year conforming loans fell from 0.5 to 0.41.
The average interest rate for 30-year contracts on jumbo loans -- larger than $417,500 -- was unchanged at 3.77 percent. Points for 30-year jumbo loans rose from 0.27 to 0.37.
Interest rates for 15-year, fixed-rate mortgages fell from 2.91 percent to 2.89 percent, with points rising from 0.34 to 0.4.
The average rate for 30-year loans backed by the Federal Housing Administration held at 3.37 percent with points rising from 0.55 to 0.64. The average rate for short-term, adjustable-rate mortgages rose in the week from 2.57 percent to 2.62 percent in the week, with points falling from 0.29 to 0.21, the MBA said.
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