The number of applications for loans to refinance existing mortgages increased last week to the highest level since early February, the Mortgage Bankers Association reported Wednesday.

And overall, mortgage applications filed with major American banks rose by a seasonally adjusted 2% from the week before to reached the highest level since April, the bankers said.

Still, mortgage applications are down 22.5% in the past year, in line with other data showing the nation’s housing market cooling significantly. The MBA survey covers about half of all American loan applications.

Applications for loans to buy a home fell 3% on a week-to-week basis, while refinancing loans rose 9.5%. Refinancings accounted for 43.7% of total applications last week, up from 40.3% to reach the highest proportion since January.

The share of loans with adjustable interest rates rose to 27% from 25.5%, which was the lowest ARM share in nearly three years.

Average contract rates for 30- and 15-year fixed-rate mortgages rose in the latest week to 6.36% and 6.04%, respectively, from 6.32% and 5.98% a week earlier. Fixed interest rates have now risen two weeks in a row, but they’re down about half a percentage point over the past three months.

The average rate for a one-year adjustable loan eased to 5.95% from 5.96%, the MBA’s data showed.