2018 Economic Calendar
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MBA Mortgage Applications  
Released On 3/14/2018 7:00:00 AM For wk3/9, 2018
PriorActual
Composite Index - W/W Change0.3 %0.9 %
Purchase Index - W/W Change-1.0 %3.0 %
Refinance Index - W/W Change2.0 %-2.0 %

Highlights
Despite another uptick in mortgage rates, purchase applications for home mortgages rose a seasonally adjusted 3 percent in the March 9 week, raising the year-on-year gain in the unadjusted Purchase Index by 2 percentage points from the prior week back up to 3 percent. But the more interest-rate sensitive applications for refinancing fell 2 percent in the week, taking the refinance share of mortgage activity down 1.7 percentage points to 40.1 percent, its lowest level since September 2008. The average interest rate on 30-year fixed rate conforming mortgages ($453,100 or less) rose 4 basis points from the prior week to 4.69 percent, the highest level 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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