2017 Economic Calendar
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MBA Mortgage Applications  
Released On 4/26/2017 7:00:00 AM For wk4/21, 2017
PriorActual
Composite Index - W/W Change-1.8 %2.7 %
Purchase Index - W/W Change-3.0 %-1.0 %
Refinance Index - W/W Change0.2 %7.0 %

Highlights
Purchase applications for home mortgages fell a seasonally adjusted 1 percent in the April 21 week, but applications for refinancing rose 7 percent. Unadjusted, the purchase index increased 0.1 percent from the previous week and was 0.4 percent higher than in the same period last year. The refinance share of mortgage activity increased by 1.6 percentage points to 44.0 percent. Mortgage rates edged down to the lowest level since November, with the average interest rate on 30-year fixed-rate conforming mortgages ($424,000 or less) down 2 basis points to 4.20 percent. Following a 3 percent drop in the prior week, the decline in weekly purchase applications this week to a level nearly unchanged from last year stands in sharp contrast to released March housing data, most recently yesterday's new home sales, which sharply exceeded analysts' expectations by rising to an annualized rate of 621,000, one of the best levels of the expansion, and in data released last week existing home sales were also at expansion highs. But purchase applications for home mortgages were also up 4 to 5 percent year-on-year in the March MBA reports, indicating that the currently flat level may be a cooldown in a housing market that has been running very hot this year.

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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