The Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey, published Wednesday, indicated that mortgage applications in the United States rose 6.2% for the week ending November 6, relative to the prior week.
The average contract interest rate for 30-year fixed-rate mortgages registered at 7.21%, a decline of 0.09 percentage points from the prior level of 7.30%. The purchase index advanced from 131.4 to 141.2, while the refinance index increased from 517.5 to 540.7.