MBA Mortgage Applications Rebound in First Week of April

Weekly mortgage applications in the United States rebounded Wednesday morning according to data from the Mortgage Bankers' Association, which said applications rose 5.4% in the week ending April 4.

In the previous week, applications fell 28.7%.

The portion of fixed rate mortgages rose 4.3% following the previous week's 30% pullback while those opting for variable rates rose 25.5% after the previous week's 2.4% rise.

The average loan size was $228.2K, below the previous week's $228.8K

By Erik Kevin Franco and edited by Nancy Girgis