Homes are seen for sale in the northwest area of Portland, Oregon March 20, 2014. Would-be buyers risk being crowded out by the run-up in home prices and mortgage rates over the past year. Home values nationwide were up 12 percent in January from the same month last year, according to data firm CoreLogic, while mortgage rates have jumped about a full percentage point. REUTERS/Steve Dipaola (UNITED STATES - Tags: REAL ESTATE BUSINESS) - RTR3HYBS

NEW YORK (Reuters) - U.S. applications to refinance an existing home reached a seven-month peak last week as mortgage rates were unchanged to higher, the Mortgage Bankers Association said on Wednesday.

The Washington-based industry group said its seasonally-adjusted index on refinancing increased 2.1 percent from the prior week to 1,526.8 in the week of June 16. This was the highest since 1,754.2 in the Nov. 18 week.