The refinance index fell 4% from last week and was 109% higher than the same week a year ago. The refinance share of mortgage activity fell to 53.0% of total applications from 53.4% ​​last week.

The seasonally adjusted purchasing index rose 3% from a week earlier. The unannounced purchases index fell 32 percent from the previous week and was 17 percent higher than the same week a year ago.

“Mortgage rates fell in line with Treasury yields, which belied data that showed a weak labor market and declining consumer confidence. The 30-year fixed-mortgage rate fell to 6.32 percent after rising steadily over the past month,” said Joel Kahn, MBA’s vice president and deputy chief economist. “After adjusting for the effects of the Thanksgiving holiday, refinance activity in both conventional and government loans declined, as borrowers were charged lower rates. Purchase applications increased slightly, but we continue to see mixed results each week as the broader economic outlook remains cloudy, even as rising home prices and sales bring some buyers back into the market.”

The adjustable rate mortgage (ARM) share of activity increased to 8.0% of total applications. Debt products other than arms decline. Federal Housing Administration (FHA) The share of total applications fell to 18.3 percent from 18.8 percent the week before. US Department of Veterans Affairs (VA) share of total applications decreased from 15.4% to 15.0% and US Department of Agriculture (USDA) share of total applications decreased from 0.4% to 0.3%.

The average contract interest rate for a 30-year fixed-rate mortgage with a loan balance of 6.40% fell to 6.32%, and the average contract rate for a 30-year fixed-rate mortgage with a jumbo loan balance fell to 6.40% from 6.49%.

The average contract rate for an FHA-backed 30-year fixed-rate mortgage fell to 6.12 percent from 6.15 percent, and the interest rate for a 15-year fixed-rate mortgage fell to 5.73 percent from 5.80 percent. 5/1 weapon rate reduced from 5.44% to 5.40%.