Econoday Economic Report: MBA Purchase Applications July 25, 2012

2012 Economic Calendar

Resource Center » U.S. & Intl Recaps | Event Release Dates | Event Definitions | Today's Calendar

MBA Purchase Applications

Released On 7/25/2012 7:00:00 AM For wk7/20, 2012

	Prior	Actual
Composite Index - W/W Change	16.9 %	0.9 %
Purchase Index - W/W Change	-0.1 %	-3.0 %
Refinance Index - W/W Change	22.0 %	2.0 %

Highlights
The purchase index fell 3.0 percent in the July 20 week, the second straight decline that reverses slight gains in the two prior weeks. The refinance index, which has been very strong as rates are very low, rose 2.0 percent. Rates were little changed in the week with conforming loan balances ($417,500 or less) unchanged at 3.74 percent.

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