2017 Economic Calendar
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MBA Mortgage Applications  
Released On 5/10/2017 7:00:00 AM For wk5/5, 2017
PriorActual
Composite Index - W/W Change-0.1 %2.4 %
Purchase Index - W/W Change4.0 %2.0 %
Refinance Index - W/W Change-5.0 %3.0 %

Highlights
Purchase applications for home mortgages rose a seasonally adjusted 2 percent in the May 5 week, pulling the unadjusted purchase index up 2 percent from the previous week to a level 6 percent higher than a year ago and the highest reading since October 2015. Refinancing applications also revived and were up 3 percent, rebounding from a 5 percent drop in the prior week and increasing the refinancing share of mortgage activity by 0.3 percentage points to 41.9 percent. The volume of overall mortgage activity increased 2 percent on a seasonally adjusted basis to its highest level since April 2009. Mortgages rates were flat in the week, with the average interest rate on 30-year fixed-rate conforming mortgages ($424,000 or less) remaining at 4.23 percent. Reaching 8-year highs, mortgage activity looks to be moving into high gear, and with home buyers accounting for 58.1 percent of applications, it indicates that the housing market is having a remarkably good Spring selling, as underscored by government housing data showing a very fast start for housing in March, when new home and existing home sales both reached expansion highs.

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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