Highlights
There was little change in mortgage bankers' data for the March 23 week, good news in data that continue to point to steadying conditions in the housing sector. The purchase index rose 0.1 percent to 411.1, nudging the four-week average higher to a 410.3 level that is very close to the latest week's index and that underscores what appears to be a stabilizing of conditions.

Refinancing demand also remains steady, a reflection of steady loan rates. The refinancing index slipped slightly to 2,197.76 with refinancings making up 45.1 percent of loan applications, down 2 tenths in the week. Thirty-year fixed mortgages averaged 6.04 percent in the week vs. 6.06 percent the week before.

New home sales data at the beginning of the week, and permit data the week before, have shaken up the outlook for the housing market. But other indicators, not least of which are MBA's data, point to stable conditions. Next data on the housing market will be construction spending on Friday.