US MBA mortgage applications w.e. 22 November +6.3% vs +1.7% prior

• Prior +1.7%
• Market index 208.0 vs 195.6 prior
• Purchase index 152.9 vs 136.0 prior
• Refinance index 501.7 vs 514.9 prior
• 30-year mortgage rate 6.86% vs 6.90% prior

Mortgage applications jumped in the past week, owing to a surge in purchase activity. That more than offset a decline in refinancing activity, with the average rate continuing to hold higher still.

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