2012 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

MBA Mortgage Applications  
Released On 10/3/2012 7:00:00 AM For wk9/28, 2012
Composite Index - W/W Change2.8 %16.6 %
Purchase Index - W/W Change1.0 %4.0 %
Refinance Index - W/W Change3.0 %20.0 %

Homeowners are moving in numbers to refinance mortgages at record low rates. The refinance index for the September 28 week is up an enormous 20.0 percent to a three-year high. Rates across products are all at record lows with 30-year conforming mortgages ($417,500 or less) down 10 basis points in the week to 3.53 percent. Home buyers are also trying to lock in these rates with the purchase index up 4.0 percent in what is a positive signal for home sales. Low rates, put in place by the Federal Reserve, are boosting mortgage activity and keeping mortgage bankers busy.

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

powered by  [Econoday]