Mortgage Applications Continue To Fall
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REUTERS/Mike Blake
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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 November 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.
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