US MBA mortgage applications w.e. 24 November +0.3% vs +3.0% prior

<ul><li>Prior +3.0%</li><li>Market index 176.1 vs 175.6 prior</li><li>Purchase index 144.9 vs 138.4 prior</li><li>Refinance index 327.8 vs 359.9 prior</li><li>30-year mortgage rate 7.37% vs 7.41% prior</li></ul><p>The fall in rates continue to benefit mortgage activity for now, although purchases were the ones driving the jump in the past week as refinancing activity fell. The average rate of the most popular US home loan continues to decline, now some distance away from the highs near 8% just last month.</p>

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