According to an industry trade group, U.S. mortgage applications rose last
week, reflecting an increase in loan refinancing even though mortgage rates are at a threee-month high.
The group's seasonally adjusted index of refinancing applications increased 2.6 percent to 1,614.4 compared with 1,573.5 the previous week.
The MBA's seasonally adjusted purchase mortgage index fell 0.4 percent to 399.0 from the previous week's 400.8. The index was below its year-ago level of 451.7.
