Highlights
Applications for home mortgages popped 5.3 percent higher in the Nov. 21 week but the level, at 261.6, remains extremely weak and does little to improve what is an outlook for declines in home sales during November. The refinance index fell 2.1 percent to 1,254.0. Mortgage rates were mostly lower in the week, at 5.99 percent for 30-year loans for a 17-basis-point decline in the week. Key to recovery for the housing sector is lower mortgage rates, the aim of the government's latest move on Tuesday to buy agency debt. New home sales data for October will be released at 10:00 a.m. ET today.