Mortgage activity rises in week

WASHINGTON, April 4 (UPI) -- The Mortgage Bankers Association said U.S. mortgage activity rose in the week ending Friday with refinancing up after six consecutive weekly declines.

Mortgage activity rose 4.8 percent, while the trade group's Refinancing Index rose 4 percent from the previous week, the MBA said.

Interest rates for 30-year, fixed-rate conforming mortgages climbed from 4.23 percent to 4.16 percent with average points falling from 0.45 to 0.43.

Rates for 15-year, fixed-rate contracts fell from 3.5 percent to 3.4 percent. Points for 15-year loans fell from 0.42 to 0.41.