US MBA mortgage applications w.e. 8 November +0.5% vs -10.8% prior

• Prior -10.8%
• Market index 192.4 vs 191.4 prior
• Purchase index 133.3 vs 130.8 prior
• Refinance index 506.0 vs 513.5 prior
• 30-year mortgage rate 6.86% vs 6.81% prior

After a big dive in mortgage applications in the week before, things are seen stabilising a bit more in the past week. However, the details show a bit of a mixed picture with purchases activity climbing while refinancing activity eases further once again. That comes as the average rate of the most popular US home loan continues to surge higher. For some context, said rate was only at 6.36% at the start of October.

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