2017 Economic Calendar
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MBA Mortgage Applications  
Released On 7/6/2017 7:00:00 AM For wk6/30, 2017
PriorActual
Composite Index - W/W Change-6.2 %1.4 %
Purchase Index - W/W Change-4.0 %3.0 %
Refinance Index - W/W Change-9.0 %-0.4 %

Highlights
Purchase applications for home mortgages rose a seasonally adjusted 3 percent in the June 30 week, while applications for refinancing fell 0.4 percent. The unadjusted purchase index was up 3 percent from the prior week and 6 percent above the level in the same week a year ago. The refinancing share of mortgage activity fell 0.7 percentage points to 44.9 percent. Mortgage rates rose in the week, with the average interest rate on 30-year fixed rate conforming mortgages ($424,000 or less) up 7 basis points to 4.20 percent, the highest level since May. The increase in purchase applications despite a rise in interest rates points to continuation in June of the of the housing market's revived strength shown in the existing home and new home sales reports for May.

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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