Highlights
The Mortgage Bankers Association's purchase index rose 1.7 percent in the Dec. 7 week to 472.0 pushing the four-week average to a very solid 440.9. Though the report did not cite any unusual factors behind the results, gains may reflect multiple applications from prospective home owners. The refinancing index also rose, up 4.3 percent to 2,879.9 with refinancings, at 57.6 percent, making up a very large share of total applications. But mortgage rates jolted higher in the latest week with 30-year fixed loans up 25 basis points to 6.07 percent. One-year adjustables rose 3 basis points to 6.31 percent. Today's data follows Monday's pending home sales report which points to improving home sales in November and December. Home sale data for November will be released at month-end. It's too early to say, but housing could be stabilizing.