2018 Economic Calendar
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MBA Mortgage Applications  
Released On 8/8/2018 7:00:00 AM For wk8/3, 2018
PriorActual
Composite Index - W/W Change-2.6 %-3.0 %
Purchase Index - W/W Change-3.0 %-2.0 %
Refinance Index - W/W Change-2.0 %-5.0 %

Highlights
Purchase applications for home mortgages fell a seasonally adjusted 2 percent in the August 3 week, posting the fourth weekly decline in a row, while applications for refinancing fell 5 percent to their lowest level since December 2000. Unadjusted, purchase applications were 2 percent below the level a year ago. The refinance share of mortgage activity decreased by 0.5 percentage points to 36.6 percent. Mortgage rates were steady, with the average interest rate for 30-year fixed rate conforming mortgages ($453,100 or less) remaining unchanged from the prior week at 4.84 percent. Higher interest rates are taking their toll on mortgage activity and the 2 percent year-on-year decline in purchase applications does not bode well for a housing market already showing little life.

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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