Mortgage application volume grew 4.5% in the week ended November 30, as refinances jumped 6% and the purchase index inched up 0.1%, according to the Mortgage Bankers Association's weekly mortgage applications survey.

The results include an adjustment for Thanksgiving.

Refinances gained to 83% of the market from 81% the week before, while 27% were HARP applications, up a percentage point from the previous week. Adjustable-rate mortgages dipped to a 3% share of the market.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,500 or less) dipped to 3.52%, matching the record low, from 3.53%.

The average 15-year fixed-rate mortgage dropped to 2.86%, its lowest ever, from 2.89%.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.