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
| Released on 1/17/07 For wk 1/12 2007 | ||||||||
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Highlights
The Mortgage Bankers purchase index dipped back 7.0 percent in the Jan. 12 week to 439.7, a level still consistent with improved demand for housing. The four-week average rose 0.5 percent to 426.6.
The refinancing index rose 6.3 percent to 2,045.8 with refinancings making up 49.9 percent of total applications, up 1.5 percentage points in the week. Loan rates moved higher with 30-year fixed mortgages averaging 6.19 percent, up 6 basis points in the week.
Whether the housing market is hitting a bottom is still uncertain but MBA's data are hinting at recovery. Next data on the housing market will be this afternoon with January's housing market index.
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