Data from an industry group reported on Wednesday, that U.S. mortgage applications nudged higher last week, as consumers showed a subdued reaction to the lowest interest rates in six months.
Interest rates on 30-year fixed-rate mortgages
It has been said by the Mortgage Bankers Association that interest rates on 30-year fixed-rate mortgages, which is the most widely used loan, fell for a sixth straight week. It continued to remain below the 5% level, which is widely viewed as a psychological tipping point.
Increase in seasonally adjusted index of mortgage applications
The MBA said that for the week to November 27 its seasonally adjusted index of mortgage applications increased 2.1% to 613.7. This index includes both purchase and refinance loans.