2018 Economic Calendar
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

MBA Mortgage Applications  
Released On 4/11/2018 7:00:00 AM For wk4/6, 2018
Composite Index - W/W Change-3.3 %-1.9 %
Purchase Index - W/W Change-2.0 %-2.0 %
Refinance Index - W/W Change-5.0 %-2.0 %

Purchase applications for home mortgages fell a seasonally adjusted 2 percent in the April 6 week, pushing the unadjusted Purchase Index down into negative territory for the first time this year, 0.5 percent below the level in the comparable week a year ago. Applications for refinancing also fell 2 percent from the previous week, which put the refinance share of total mortgage activity at 38.4 percent, its lowest level since September 2008. The mortgage activity decline came despite a usually supportive drop in rates, with the average interest rate on 30-year fixed rate conforming mortgages ($453,100 or less) falling by 3 basis points to 4.66 percent. Purchase applications in the red versus last year is a signal of perhaps only temporary weakness for the housing market.

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

powered by  [Econoday]