Applications for Mortgages Are Up

Applications for U.S. home mortgages rose for the first time in three weeks despite higher interest rates, the Mortgage Bankers Assn. said.

Both purchasing and refinancing activity gained sharply in the week ended Friday.

The association said its seasonally adjusted index of mortgage applications increased 9.6% to 853.4, more than offsetting the previous week’s 1.1% loss.