NEW YORK (CNNMoney.com) -- Mortgage application volume increased 1.3 percent in the past week, according to a report Wednesday.
The Market Composite Index, which measures volume, rose to 622.9 for the week ended August 31, 2007, from 615.2, said the Mortgage Bankers Association.
The Refinance Index rose 2.3 percent to 1770.2 from 1729.6 the previous week. The Purchase Index increased 0.4 percent to 425.8 from 424.0 one week earlier.
The average interest rate for 30-year fixed-rate mortgages increased to 6.42 percent from 6.41 percent in the week-prior period. 
