Freddie Mac said the average rate on 30-year fixed-rate mortgages increased to 7.69% for the week ended Nov. 19, up from 7.67% from the previous week.
In the 15-year sector, fixed-rate mortgages increased to 7.31% from the prior week's 7.30%. A year ago, the rate was 6.51%.
The rate for one-year Treasury-indexed adjustable-rate mortgages averaged 6.35%, up from last week's average of 6.30%. A year ago, this rate was 5.52%.
Refi Index Decreases Slightly
The Mortgage Bankers Association's refinancing index decreased to 443.1 for the week ending Nov. 19, down from 443.7 the previous week.
Mortgage loan applications decreased 4.9% from the prior week and refinancings made up 22.0% of the total volume, decreasing from the previous week's 23.3%.
Meanwhile, the MBA's home purchase index increased to 298.5 from 268.8 the prior week. Base period for all indexes, March 16, 1990=100.
