An industry group said on Wednesday that the volume of applications for U. S. mortgages rose sharply in the week ending June 11 with interest rates mixed.

Its Market Composite Index rose 17.7 percent while the Refinancing Index advanced 21.1 percent on a seasonally adjusted basis in the week, the Mortgage Bankers Association has said.

The average interest rate for 30-year during the week for fixed-rate mortgages rose from 4.81 percent to 4.82 percent with points falling from 1.02 to 0.89.

It has been further reported that rates for the average 15-year, fixed-rate mortgage fell from 4.26 percent to 4.23 percent, with points for 15-year contracts falling from 0.95 to 0.83.

According to the MBA, for one-year, adjustable-rate mortgages, the average interest rate rose from 6.94 percent to 7.07 percent with points increasing from 0.3 to 0.27. (With inputs from Agencies)