US MBA mortgage applications w.e. 15 November +1.7% vs +0.5% prior

• Prior +0.5%
• Market index 195.6 vs 192.4 prior
• Purchase index 136.0 vs 133.3 prior
• Refinance index 514.9 vs 506.0 prior
• 30-year mortgage rate 6.90% vs 6.86% prior

Despite a continued rise in the average home loan rate, mortgage applications steadied in the past week with both purchases and refinancing activity showing a bounce. It’s only a bit of a light comfort though, after having seen a sharp plunge in the first week of November.

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