US DATA: MBA refis were -16.5% and the purchase index was -5.0%, making
the Mtg Bankers Association Market Composite -14.4% adjusted in the Nov
12 wk. The 4-wk moving ave was -2.8% with refis 80.3% of total apps. An
MBA off’l said the refi index is now at its lowest since July. The ave
30-yr fixed mtg rate went up to 4.46% vs 4.28% the prv week. “Rates
increased sharply last week due to stronger economic data and lingering
uncertainty regarding the structure and impact of the Fed’s QE2
program,” he said. See the survey summary on the MNI main wire.