Mortgage applications in the U.S. rose in the week ended March. 18, after a slight decrease in demand in the previous week.

The total loan applications index, a measure of mortgage loan application volume, increased 2.7 percent on a seasonally-adjusted basis from a week earlier, the Mortgage Bankers Association (MBA) said on Wednesday.

Both the refinancing and purchasing indexes increased 2.7 percent each compared with a week earlier.

The average contract interest rates for 30-year fixed rate mortgage increased to 4.80 percent from 4.79 percent in the previous week, while the 15-year fixed-rate mortgages fell to 4.02 percent from 4.03 percent.