Led by an increase in inquiries for purchase financing, government-insured loans and jumbo mortgages — overall mortgage activity was higher this week. Both jumbo and 15-year loans were priced more competitively in the latest report, and overall mortgage rates are poised to come in lower in the next report.
New mortgage activity grew 9 percent from last week, pushing the U.S. Mortgage Market Index from Mortech Inc. and Mortgage Daily to 259 for the week ended Jan. 27.
The index was 22 percent higher than the same week during 2011.