| MBA Purchase Applications |
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Released On 3/28/2012 7:00:00 AM For wk3/23, 2012
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Prior | Actual |
| Composite Index - W/W Change | -7.4 % | -2.7 % | | Purchase Index - W/W Change | -1.0 % | 3.3 % | | Refinance Index - W/W Change | -9.3 % | -4.6 % |
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Highlights
Purchase applications for home mortgages rose 3.3 percent in the March 23 week, lifting the four-week average 2.1 percent and offering a slightly positive signal for underlying home sales. Refinancing applications fell for the sixth week in a row, down 4.6 percent with the four-week average down 4.9 percent. Rates rose during the week including for 30-year conforming mortgages which rose four basis points to an average 4.23 percent.
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Definition
The Mortgage Bankers' Association compiles various mortgage loan indexes. The purchase applications index measures applications at mortgage lenders. This is a leading indicator for single-family home sales and housing construction.
Why Investors Care
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