WASHINGTON - Mortgage applications in the week that ended Oct. 3 rose 3.2% on a seasonally adjusted basis from the previous week, the Mortgage Bankers Association reported.

On an unadjusted basis, the application index fell 6.9% from the week before, but was up 14.8% over the same week last year.

The housing-demand index increased 2.74% from the previous week to 311.1, and its seasonally adjusted refinance index increased 4.96%, to 498.6.

The conventional-loan application index 3.69%, to 423.5, and the government-loan index 1.59%, to 197.

Refinances represented 22.1% of loan applications, an increase of 0.3 percentage points. Adjustable-rate mortgage applications represented 13.9%, down 0.6 percentage points.

The average interest rate for 30-year fixed-rate mortgages dipped 8 basis points, to 7.79%. The average rate for one-year adjustable mortgages fell 13 basis points, to 7.43%.

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