U.S. mortgage applications rise in latest week: MBA

NEW YORK (Reuters) - Applications for U.S. home mortgages rose last week as both purchase and refinancing applications jumped, an industry group said on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, climbed 11.3 percent in the week ended Aug. 28.

The MBA's seasonally adjusted index of refinancing applications rose 16.8 percent to its highest level since April, while the gauge of loan requests for home purchases, a leading indicator of home sales, rose 4.1 percent to its highest level since July.

Fixed 30-year mortgage rates averaged 4.08 percent in the week, unchanged from the previous week.

The survey covers over 75 percent of U.S. retail residential mortgage applications, according to MBA.

(Reporting by Caroline Valetkevitch; Editing by Diane Craft)

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