2017 Economic Calendar
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MBA Mortgage Applications  
Released On 3/29/2017 7:00:00 AM For wk3/24, 2017
PriorActual
Composite Index - W/W Change-2.7 %-0.8 %
Purchase Index - W/W Change-2.0 %1.0 %
Refinance Index - W/W Change-3.0 %-3.0 %

Highlights
Purchase applications for home mortgages rose a seasonally adjusted 1 percent in the March 24 week, but refinancing applications fell 3 percent despite a significant drop in interest rates. Unadjusted, the purchase index rose 2 percent from the prior week and was up 4 percent from the same week a year ago. The refinance share of mortgage activity fell 1.1 percentage points to 44 percent, the lowest level since October 2008. Mortgage rates fell sharply during the week, with the average interest rate on 30-year conforming mortgages ($424,000 or less) decreasing by 13 basis points to 4.33 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
 
 

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