A recent decline in mortgage rates has driven up demand from borrowers who missed out on the last refinance opportunity, though home buyers were also busier.

The U.S Mortgage Market Index from OpenClose and Mortgage Daily was 131 in the week that concluded on Jan. 13. There are no seasonal adjustments.

It was the best showing for the index — a reflection of rate lock volume by OpenClose users — since the week that ended on Dec. 16, 2016, when it was 154.

Source: Mortgage Daily