2017 Economic Calendar
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MBA Mortgage Applications  
Released On 2/15/2017 7:00:00 AM For wk2/10, 2017
PriorActual
Composite Index - W/W Change2.3 %-3.7 %
Purchase Index - W/W Change2.0 %-5.0 %
Refinance Index - W/W Change2.0 %-3.0 %

Highlights
Purchase applications for home mortgages fell a seasonally adjusted 5.0 percent in the February 10 week, putting the unadjusted purchase index up 1.0 percent from the prior week and 3.0 percent above the level in the same week a year ago. Refinancing applications fell 3.0 percent in the week, with the refinancing share of mortgage activity declining by 1.0 percentage point to 46.9 percent, the lowest level since June 2009. The average interest rate on 30-year fixed rate conforming mortgages ($424,000 or less) fell 3 basis points to 4.32 percent. Despite the week's adjusted decline, the year-on-year strength in purchase applications continues to show that unlike refinancing homeowners, homebuyers are not deterred by mortgage rates that are more than 70 basis points higher than last year's summer lows.

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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