Mortgage application volume fell 1.3% on a seasonally adjusted basis for the week ending Nov. 6, compared to the previous week, according to the Mortgage Bankers Association.
Application volume fell 2% on an unadjusted basis, the MBA said in its weekly report on mortgage applications.
Refinance applications as a share of total application activity rose to 59.8% from 59.7%. Adjustable-rate mortgages, as a share of total volume, fell to 6.6% of total applications.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances rose 11 basis points to 4.12%. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances rose 14 basis points to 4.04%.
The average contract interest rate for 30-year fixed-rate mortgages backed by the Federal Housing Administration rose 6 basis points to 3.87%, while the average contract interest rate for 15-year fixed-rate mortgages rose 11 basis points to 3.35%.
