Purchase applications for home mortgages rose a seasonally adjusted 2 percent in the May 5 week, pulling the unadjusted purchase index up 2 percent from the previous week to a level 6 percent higher than a year ago and the highest reading since October 2015. Refinancing applications also revived and were up 3 percent, rebounding from a 5 percent drop in the prior week and increasing the refinancing share of mortgage activity by 0.3 percentage points to 41.9 percent. The volume of overall mortgage activity increased 2 percent on a seasonally adjusted basis to its highest level since April 2009. Mortgages rates were flat in the week, with the average interest rate on 30-year fixed-rate conforming mortgages ($424,000 or less) remaining at 4.23 percent. Reaching 8-year highs, mortgage activity looks to be moving into high gear, and with home buyers accounting for 58.1 percent of applications, it indicates that the housing market is having a remarkably good Spring selling, as underscored by government housing data showing a very fast start for housing in March, when new home and existing home sales both reached expansion highs.