The Mortgage Bankers Association (MBA) released Wednesday its Weekly Mortgage Applications Survey for week ending April 3, 2009 showing increases in both purchase and refinance application.

The four week moving average of the rise in mortgage and refinance applications is already up 13.3 percent.

The Market Composite Index, which measures the volume of mortgage loan application increased from 1,194.4 to 1,250.6 while the Refinance Index rose 3.2 percent to 6,813.5 for that week.

The average interest rate for 30-year, fixed-rate mortgages excluding feed rose to 4.73 percent from 4.61 percent a week earlier up by 0.12 percentage points.

The average 15-year, fixed-rate mortgages edged up to 4.49 percent from 4.45 percent.

The average interest rate for one-year adjustable rate mortgages rose from 6.2 percent with an average 0.14 points to 6.23 percent with the average points unchanged, the report said.

The MBA’s seasonally adjusted index of refinancing applications rose 3.2 percent to 6,813.5. The share of refinance applications decreased to 77.9 percent from 79.1 percent compared to the previous.