Their weekly index rose  from 514.4 to 528.9 the previous week on a seasonally adjusted basis.

On an unadjusted basis, the index increased 2.9% from the previous week and was up 6.6%compared with the same week a year ago.

The purchase index was up 1.3% while the refinance index rose 4%, accounting for 55.5% of total applications.

Mortgage rates also jumped last week:

• 30-year fixed-rate mortgages increased to 5.31% from 5.05%;
• 15-year fixed-rate mortgages increased to 4.80% from 4.59%;
• 1-year ARMs increased to 6.50% from 6.47%.

However this is  lower compared to the double-digits of the 1980s.

To read more about it you can read the Mortgage Bankers Association’s Weekly Application Survey here:

http://www.mbaa.org/NewsandMedia/PressCenter/69699.htm