NEW YORK (Reuters) – Demand for home loans rose to a six-week high on a mini refinance wave, with borrowers pushing to lock in rates before they climb later this year, the Mortgage Bankers Association said on Wednesday,

Applications to buy homes and refinance loans jumped last week to mid-December levels as average 30-year mortgage rates held near 5 percent.

The industry group’s mortgage index jumped 21 percent last week, fueled by a 26.3 percent leap in demand for refinancing as purchase loan requests increased 10.3 percent.

The 30-year mortgage rate dipped 0.01 percentage point to 5.01 percent. Read the rest of this entry »