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Pre Session Commentary - Detailed News

Economic Buzz: US mortgage applications grow despite rising rates
27-Nov-25   08:08 Hrs IST
Home loan approvals and purchase activity in the U.S. increased in the week ended November 21 even as mortgage rates continued to climb, survey data from the Mortgage Bankers Association revealed on Wednesday.

The market composite index that measures the house purchase mortgage loan application volume rose a seasonally adjusted 0.2 percent after a 5.2 percent fall in the previous week, results of the MBA Weekly Mortgage Applications Survey revealed.

The refinance index fell 6 percent following a 7 percent decrease in the previous week, the MBA survey showed. The purchase index surged 8 percent, after a 2 percent fall in the previous week.

The MBA survey also showed that the refinance share of mortgage activity decreased further to 53.4 percent of total applications from 55.4 percent in the previous week. The adjustable-rate mortgage (ARM) activity share rebounded to 7.9 percent from 7.5 percent.

The 30-year fixed mortgage rate climbed for a fourth straight week to 6.40 percent from 6.37 percent. The latest rate was the highest since early October.

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