(Reuters) - The Mortgage Bankers Association said its seasonally adjusted applications index increased 3.6 percent in the week ended May 4 to 680.7, its highest level since 690.5 in the week ended March 9.
Average 30-year fixed-rate mortgage rates, excluding fees, fell 0.04 percentage point to 6.10 percent, the lowest since they hit 6.04 percent in the March 23 week. Long-term borrowing costs have fallen about half a percentage point from a year ago, according to the trade group.
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