Highlights
The purchase index from the Mortgage Bankers Association was little changed in the Nov. 2 week, down 2 tenths to 412.7 and just below the four-week average which slipped to 417.6. MBA's data, this week and in prior weeks for October, point to another month of disappointment for the housing sector. Interest rates are nevertheless a positive for housing demand with the average 30-year fixed mortgage little changed in the week at a moderate 6.16 percent. Favorable rates are giving a boost to refinancing though the index did edge back 3.2 percent in the week to 2,176.1.