Core Insights - US mortgage applications for home purchases increased significantly, reaching the highest level since early 2023, despite high borrowing costs [1] - The Mortgage Bankers Association's index of home-purchase applications rose by 7.6% to 181.6 for the week ending November 21 [1] - The contract rate for a 30-year fixed mortgage increased to 6.4%, marking a more than one-month high [1] - The refinancing measure from the Mortgage Bankers Association fell to its lowest level since early September [2] - The MBA survey captures over 75% of all retail residential mortgage applications in the US, indicating a broad representation of the market [2]