Recently released data show home prices rose in September, but pending home sales declined for the fifth consecutive month in October, "presaging a softening in sales near year-end," Nothaft said.
In the week, rates for 30-year fixed-rate mortgages rose from 4.22 percent to 4.29 percent with 0.7 point in the past week.
A year ago, rates for 30-year, fixed-rate mortgages averaged 3.32 percent.
Rates for 15-year fixed-rate mortgages rose from 3.27 percent to 3.3 percent with an average 0.7 point in the week. A year ago in the same week, 15-year fixed-rate loans averaged 2.64 percent.
Among the shorter-duration loans, rates for 5-year Treasury-indexed hybrid adjustable-rate mortgages averaged 2.94 percent this week with an average 0.5 point. Rates a week ago averaged 2.95 percent. A year ago, they averaged 2.72 percent.
Rates for 1-year Treasury-indexed adjustable-rate loans averaged 2.6 percent in the week, down from 2.61 percent in the previous week. One-year loans averaged 0.4 point.
Last year over the same period, rates for 1-year adjustable-rate loans averaged 2.56 percent.
One point is equal to 1 percent of the amount of the loan and is typically paid up front. It includes a corresponding discount on the loan's long-term interest rates.