U.S. mortgage applications increased 5.9% to 712.4 last week, as rose refinancing activity, according to the Mortgage Bankers Association (MBA).

The index of refinancing applications increased 9.8% to 2052.5.

The purchase index, a gauge of loan requests for home purchases, rose 3.3% to 482.0.

Refinancings accounted for 39.3% of total applications, up from the prior week’s 38.0%, while adjustable-rate mortgages slipped to 34.7% from 35.4%.

The fixed 30-year mortgage rates averaged 5.75%, down 0.08% from 5.83% in the previous week.