Demand for purchase mortgages climbed last week even as rates ticked up slightly and the nation geared up to celebrate Independence Day.

While applications for purchase loans during the week ending July 4 were up a seasonally adjusted 4 percent from the week before, they were down 10 percent from the same time a year ago, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. The results of the survey were adjusted to take into account the fact that lenders weren’t open for business Friday.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) was 4.32 percent, up from 4.28 percent the week before. Points increased from 0.14 to 0.16, including the origination fee.

The average contract interest rate for 5/1 adjustable-rate mortgage (ARM) loans was 3.24 percent, up from 3.21 percent the week before, with points decreasing from 0.33 to 0.31.

Requests for ARM loans remained unchanged at 8 percent of total applications. Requests to refinance accounted for 52 percent of applications.

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