Prospective homebuyers have a spring in their step, as mortgage applications increased almost 5 percent last week, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey.

As we bid adieu to another harsh winter and welcome a more cheerful season — at least in some areas of the country, anyway — prospective homebuyers have a spring in their step, as mortgage applications increased almost 5 percent last week, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey.

For the week ending March 27, mortgage application activity, including home purchase demand and refinancing applications, rose 4.6 percent — marking the fourth consecutive week that the MBA has reported an increase in mortgage applications. Last week, the association reported that applications jumped 9.6 percent.

According to the MBA’s most recent weekly survey, the seasonally adjusted index of loan applications rose 5.7 percent, and refinancing applications rose 3.9 percent. The refinance share of total mortgage activity fell slightly to 60 percent of applications from 61 percent the week before.

“There was a broad-based increase in mortgage applications last week relative to the week prior,” said Lynn Fisher, vice president of research and economics at the MBA. “The increase in purchase volume was led by a nearly 6 percent increase in both conventional and government markets, perhaps signaling that households are finally ready to begin the homebuying season.”

At the same time, interest rates are falling, the MBA said. Fixed, 30-year mortgage rates averaged 3.89 percent for the week, down 1 basis point from 3.9 percent the previous week.

MBA’s survey covers more than 75 percent of U.S. retail residential mortgage applications.

Email Amy Swinderman.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×