Mortgage rates fell marginally for the week ending Nov. 22, dipping 0.3% from a week earlier, the Mortgage Bankers Association said Wednesday.
The refinance index edged up 0.1%, while the purchase index decreased 0.2% from the previous week.
As a whole, the refinance share of mortgage activity climbed back up, representing 66% of all applications filed, up from 64% a week ago.
The 30-year, fixed-rate mortgage with a conforming loan limit increased to 4.48% from 4.46%, while the 30-year, FRM with a jumbo loan balance increased to 4.48% from 4.47%.
In addition, the 30-year, FHA rate climbed to 4.16% from 4.14%, while the 15-year FRM remained frozen at 3.52%.
Meanwhile, the average contract interest rate for a 5/1 ARM escalated to 3.18% from 3.12%.
