Mortgage Applications Continue To Fall (ITB, XHB)
Mortgage applications fell 1.8% in the week ending Nov. 9. This compares with -2.8% the previous week, which was revised up from an earlier estimate of -7%.
The purchase index fell 1%, down from a 5% fall the previous week.
Meanwhile, the refinance index fell 2%, down from an 8% fall the previous week.
The 30-year fixed mortgage rate stood at 4.16%, in the week ending Nov. 7. This is down from a recent two-year high of 4.58%.
Rising mortgage rates have started to trickle into housing data. Markets are also focused on when the Fed will begin to taper its $85 billion monthly asset purchase program that includes purchases of mortgage-backed securities.
- This Map Shows How America Is Divided Into 11 Nations
- Retired Adult Film Star Jenna Jameson Returns To Porn Amid Financial Woes
- 9 Lies About Fat That Destroyed The World's Health