US MBA mortgage applications w.e. 1 November -10.8% vs -0.1% prior

• Prior -0.1%
• Market index 191.4 vs 214.5 prior
• Purchase index 130.8 vs 137.8 prior
• Refinance index 513.5 vs 630.0 prior
• 30-year mortgage rate 6.81% vs 6.73% prior

Mortgage applications tanked in the past week with both purchases and refinancing activity slumping hard amid the rise in rates. Now that Trump has won the election and rates are skyrocketing even more, this is one spot that isn’t going to go down well in the next week.

This article was written by Justin Low at www.forexlive.com.