The Market Composite Index, which measures mortgage loan application volume, rose from 398.6 to 404.4 in the week ending Nov. 21, the Mortgage Bankers Association said in a release Wednesday.

The Refinance Index decreased in the week, down 2.1 percent to 1,254, the MBA said.

The average interest rate for 30-year, fixed-rate mortgages decreased from 6.16 percent to 5.99 percent with points falling from 1.24 to 1.23, the organization said.

Rates for the average 15-year, fixed-rate mortgage fell from 5.87 percent to 5.78 percent. Points in 15-year, fixed-rate mortgages increased from 1.24 to 1.29.

The average interest rate for one-year adjustable rate mortgages increased from 6.8 percent with an average 0.63 points to 6.87 percent with 0.64 points, the report said.