Mortgage applications slightly inched up, escalating 0.2% from one week earlier, the Mortgage Bankers Association said.

Also posting a meager increase, the refinance index rose 0.3% from the previous week, for the week ending April 19. 

The seasonally adjusted purchase index continued to rise and similarly increased .3%, posting its highest level since May 2010.

For the second week straight, the refinance share of overall mortgage activity remained at 75%.

The adjustable-rate mortgage share of activity sank down to 4% of total applications.

Meanwhile, the average 30-year, fixed-rate mortgage with a conforming loan balance decreased to 3.65% from 3.67%.

The average 30-year, FRM with a jumbo loan balance fell to 3.75% from 3.77% last week. 

The average contract interest rate for the 30-year, FRM backed by the FHA remained at 3.37% compared to a week prior. 

Additionally, the 5/1 ARM swung back up to 2.62% from 2.57% last week. The 15-year, FRM decreased from 2.91% to 2.89%.