US MBA mortgage applications w.e. 29 November +2.8% vs +6.3% prior

• Prior +6.3%
• Market index 213.9 vs 208.0 prior
• Purchase index 161.5 vs 152.9 prior
• Refinance index 498.5 vs 501.7 prior
• 30-year mortgage rate 6.69% vs 6.86% prior

Mortgage applications continued with the bounce back in the past week, helped by a surge in purchases activity. That comes amid a modest drop in the average rate of the most popular US home loan by 17 bps. Despite that though, refinancing activity continues to stay more suppressed as it fell again in the last week.

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