2018 Economic Calendar
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MBA Mortgage Applications  
Released On 1/24/2018 7:00:00 AM For wk1/19, 2018
PriorActual
Composite Index - W/W Change4.1 %4.5 %
Purchase Index - W/W Change3.0 %6.0 %
Refinance Index - W/W Change4.0 %1.0 %

Highlights
Undeterred by the highest interest rates in ten months, homebuyers led the 4.5 percent increase in mortgage application activity in the January 19 week, with purchase applications for home mortgages rising by a seasonally adjusted 6.0 percent from the previous week. The increase left the year-on-year gain in the unadjusted Purchase Index unchanged from the previous week's 7 percent due to a higher base in the corresponding week last year. Applications for refinancing, which tend to be more sensitive to interest rates, rose just 1 percent from the previous week, taking the refinancing share of mortgage activity down 0.8 percentage points to 49.4 percent. The average interest rate on 30-year fixed rate conforming mortgages ($453,100 or less) rose 3 basis points in the week to 4.36 percent, the highest level since March 2017. The recent acceleration in mortgage applications despite rising interest rates points to acceleration of the housing market strength seen in the last quarter.

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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