Applications for US home mortgages rebounds, MBA says

The Mortgage Bankers Association (MBA) said its seasonally adjusted index of application activity, which covers home purchase demand and refinancing demand, climbed 6.2% in the week ended 13 November.

The seasonally adjusted sub-index of refinancing applications advanced 2%, while the index of loan requests for home purchases, a key indicator of home sales, jumped 12% and is now 19% higher than it was in the corresponding period in 2014.

Meanwhile, fixed 30-year mortgage rates rose from 4.12% to 4.18%.