US: Mortgage Applications Rise Most in 5 Months.

The volume of mortgage applications in the US rose by 6.2% on the week ending November 6th, the sharpest weekly increase since June, according to data compiled by the Mortgage Bankers Association. The jump trimmed the sharp decline in mortgage applications since the start of September, as a pullback in oil prices and pivot to safer Treasury securities by financial markets lowered benchmark mortgage rates. Applications to refinance a mortgage, which are more sensitive to short-term changes in interest rates, rose by 4.5%. Meanwhile, applications for a mortgage to buy a new home rose by 7.5%.