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erial view of a Las Vegas housing development on Aug. 8, 2025, photo by Justin Sullivan/Getty Images. As the market enters its slowest season, buyers are making a final push, spurred by more inventory and easing prices. Mortgage Bankers Association data shows a 6 % rise in home‑purchase applications last week, the strongest since September, and 31 % above the same period a year ago. This growth occurs even though the average 30‑year fixed rate for conforming loans ($806,500 or less) climbed to 6.34 % from 6.31 %, with points rising to 0.62 from 0.58 for 20 % down payments—still 52 basis points lower than a year earlier. Conventional, FHA, and VA purchase applications increased as buyers shop more in markets with higher inventory and slower price growth. The unadjusted purchase index marks the strongest November start since 2022, according to MBA economist Joel Kan. Refinancing demand fell 3 % last week but remains 147 % above last year, thanks to lower rates. Higher rates dampened conventional and VA refinance applications, and the average refinance loan size hit a one‑month low. Mortgage rates stayed flat this week, with the bond market’s Veterans Day closure and the looming end of the government shutdown keeping markets alert to potential rate shifts.