U.S. mortgage applications increased 1.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey.

The MBA’s index, a measure of mortgage loan application volume, increased 1.9 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the index decreased 19 percent compared with the previous week.  The refinance index increased 0.4 percent from the previous week.  The seasonally adjusted purchase index increased 4 percent from one week earlier. The unadjusted purchase Index decreased 17 percent compared with the previous week and was 10 percent lower than the same week one year ago.

The refinance share of mortgage activity decreased to 52 percent of total applications from 53 percent the previous week. The adjustable-rate mortgage (ARM) share of activity remained unchanged at 8 percent of total applications.

The average contract interest rate for conforming 30-year fixed-rate mortgages increased to 4.32 percent from 4.28 percent.  The effective rate increased from last week.

The average contract interest rate for jumbo 30-year fixed-rate mortgages decreased to 4.24 percent from 4.26 percent.  The effective rate increased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 4.02 percent from 3.99 percent.  The effective rate increased from last week.

The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.40 percent from 3.42 percent. The effective rate remained unchanged from last week.

The average contract interest rate for 5/1 ARMs increased to 3.24 percent from 3.21 percent.  The effective rate increased from last week.