Mortgage applications increased 11.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Jan. 4, 2013. The results include an adjustment to account for the New Year’s Day holiday.

The Refinance Index increased 12 percent from the previous week and is up less than 1 percent from two weeks ago, the week prior to the holidays. The seasonally adjusted Purchase Index increased 10 percent from one week earlier. The unadjusted Purchase Index increased 49 percent compared with the previous week and was 8 percent lower than the same week one year ago. The seasonally adjusted Purchase Index is down 2 percent from two weeks ago, the week prior to the holidays.