2018 Economic Calendar
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MBA Mortgage Applications  
Released On 2/21/2018 7:00:00 AM For wk2/16, 2018
PriorActual
Composite Index - W/W Change-4.1 %-6.6 %
Purchase Index - W/W Change-6.0 %-6.0 %
Refinance Index - W/W Change-2.0 %-7.0 %

Highlights
As interest rates continued to rise, purchase applications for home mortgages fell 6.0 percent on a seasonally adjusted basis in the February 16 week, putting the unadjusted year-on-year gain in the Purchase Index at 3.0 percent, down 1 percentage point from the prior week. Applications for refinancing, which are even more sensitive to mortgage rates, fell 7.0 percent from the prior week, with the refinancing share of mortgage activity declining to 44.4 percent, the lowest level since July of 2017. The average interest rate on 30-year fixed rate conforming mortgages ($453,100 or less) increased by 7 basis points to 4.64 percent, the highest rate since January 2014.

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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