Mortgage Applications Settle For Second Straight Week

After swinging wildly through October on new lending disclosure rules, mortgage applications settled down for a second straight week. The purchase index edged 1 tenth higher in the November 6 week with the refinance index down 2.0 percent. A big rise in rates, tied to the October employment report, hit late in the week and did not have a dramatic effect on the week's application volumes. The average fixed rate mortgage for conforming loans ($417,000 or less) jumped 11 basis points in the week to 4.12 percent.