2017 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

MBA Mortgage Applications  
Released On 3/1/2017 7:00:00 AM For wk2/24, 2017
PriorActual
Composite Index - W/W Change-2.0 %5.8 %
Purchase Index - W/W Change-3.0 %7.0 %
Refinance Index - W/W Change-1.0 %5.0 %

Highlights
Purchase applications for home mortgages rose a seasonally adjusted 7 percent in the February 24 week, while applications for refinancing increased by 5 percent to the highest level since December. Without adjustments, which included the President's Day holiday, the purchase index fell 1 percent from the previous week and was down 5 percent from the same week a year ago. Despite the weekly increase, the refinance share of mortgage activity continued to fall, shedding 1.1. percentage points to 45.1 percent, the lowest level since November 2008. Lower rates probably played a role in the week's pickup in mortgage activity that follows 2 weeks of declines, with the average interest rate on 30-year conforming mortgages ($424,000 or less) falling 6 basis points to 4.30 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
 
 

powered by  [Econoday]