Weekly mortgage applications in the United States rebounded Wednesday morning according to data from the Mortgage Bankers' Association, which said applications rose 5.4% in the week ending April 4.

In the previous week, applications fell 28.7%.

The portion of fixed rate mortgages rose 4.3% following the previous week's 30% pullback while those opting for variable rates rose 25.5% after the previous week's 2.4% rise.

The average loan size was $228.2K, below the previous week's $228.8K

By Erik Kevin Franco and edited by Nancy Girgis