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

MBA Mortgage Applications  
Released On 6/13/2018 7:00:00 AM For wk6/8, 2018
Composite Index - W/W Change4.1 %-1.5 %
Purchase Index - W/W Change4.0 %-2.0 %
Refinance Index - W/W Change4.0 %-2.0 %

Purchase applications for home mortgages fell a seasonally adjusted 2 percent in the June 8 week following a rare increase in the prior week that interrupted a 5-week long string of consecutive declines. Unadjusted, purchase applications were down 0.2 percent from the level in the same week last year, dipping into negative year-on-year territory for the first time this year. Applications for refinancing also fell 2 percent from the prior week, keeping the refinancing share of mortgage activity unchanged at 35.6 percent. Mortgage rates resumed their climb higher, with the average interest rate for 30-year fixed rate conforming mortgages ($453,100 or less) increasing by 8 basis points to 4.83 percent. Surprising at a time of continuing exceptional labor market strength, the first negative year-on-year reading in purchase applications this year is not a good indication for a housing market already showing signs of weakness.

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]