Mortgage application activity tumbled 10% in the week ending Nov.11, said the Mortgage Bankers Association (MBA), despite mortgage rates holding steady.

The Refinance Index gave back slightly more than the prior week's gain, dropping 12.2% to 3483.9. Meanwhile, the Purchase Index slipped 2.2% to 179.0. The results were adjusted for the Veterans' Day holiday.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.