The number of applications for home mortgages rose sharply last week, according to the Mortgage Bankers Association (MBA), dovetailing with recent federal data showing a surge in building permits and pointing to a likely boost in future home sales. Total mortgage application volume rose 4.9 percent last week, according to MBA’s composite index that tracks mortgage originations. The rise follows a minor 0.3 percent uptick the week prior and a 1.9 percent decline two weeks ago, with the trend suggesting tailwinds for the housing market. Mortgage rates remain at historic lows, with the benchmark 30-year fixed mortgage rate at 2.86 percent as of Sept. 16, according to Freddie Mac. The 30-year hit a record high of 18.63 percent in 1981. “Homeowners can capitalize on this prolonged period of ultra-low mortgage rates by refinancing and generating meaningful monthly savings to absorb the rising household costs seen in other areas,” Bankrate Chief Financial Analyst …