2017 Economic Calendar
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MBA Mortgage Applications  
Released On 6/28/2017 7:00:00 AM For wk6/23, 2017
PriorActual
Composite Index - W/W Change0.6 %-6.2 %
Purchase Index - W/W Change-1.0 %-4.0 %
Refinance Index - W/W Change2.0 %-9.0 %

Highlights
Purchase applications for home mortgages fell a seasonally adjusted 4 percent in the June 23 week, putting the unadjusted purchase index 8 percent above the level in the same week a year ago. Refinancing applications fell 9 percent from the prior week, with the refinance share of mortgage activity decreasing by 1.0 percentage point to 45.6 percent. The average interest rate on 30-year fixed rate conforming mortgages ($424,000 or less) remained unchanged from the prior week at 4.13 percent, the third consecutive week at this rate. Despite the week's decline, purchase applications activity remains robust, up 8 percent year-on-year, and the drop off is an extension of the prior week's pullback from the June 2 week very strong pace, when purchase applications attained the highest level since November 2010.

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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