WASHINGTON, Dec. 14 (UPI) — The Mortgage Bankers Association said U.S. mortgage activity rose 4.1 percent in the week ended Friday with long-term mortgage interest rates falling.

Interest rates for 30-year, fixed-rate mortgages fell from 4.18 percent to 4.12 percent with points dropping from 0.48 to 0.45, the trade group said.

Rates for 15-year, fixed-rate contracts fell from 3.53 percent to 3.44 percent with points rising from 0.45 to 0.52.

The association said its interest rates for both 15-year and 30-year contracts were the lowest of the year.

In the week, the Refinancing Index also rose, climbing 9.3 percent, the MBA said.