Applications for U.S. home mortgages rose last week as borrower activity bounced from a holiday-related slowdown in mid-January, an industry group said on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity gained 11.3 percent in the week ended Jan. 28.

The index had fallen nearly 13 percent in the prior week that included the Martin Luther King, Jr. federal holiday.

The MBA's seasonally adjusted index of refinancing applications rose 11.7 percent, and the gauge of loan requests for home purchases climbed 9.5 percent.

Fixed 30-year mortgage rates averaged 4.81 percent in the week, up 0.01 percentage point from the prior week.