Mortgage applications rose 2.4 percent to 674.3 in the week ended March 25, according to the Mortgage Bankers Association. The seasonally adjusted index of refinancing applications declined 2% to 1857.2.

Fixed 30-year mortgage rates rose to 6.08% on average from 5.95% last week.

"Rates on 30-year fixed-rate mortgages have increased 34 basis points in the last month. Following this increase in rates, the market attained a record high ARM (adjustable-rate mortgage) share this week, both in terms of number of loans and dollar volumes," said Michael Cevarr, MBA’s director.

The MBA’s purchase index rose 5.5% to 470.9.