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 4/4/07 For wk 3/30 2007 | ||||||||
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Highlights
The Mortgage Bankers Association's purchase index slipped 2.0 percent in the March 30 week to 402.9, making for a fractional dip in the four-week average to 409.7 that points to stable, not deteriorating, conditions in the nation's housing sector.
The refinancing index slipped 4.5 percent to 2,098.3 with refinancings making up 44.5 percent of total applications, down from 45.1 percent in the prior week. The average rate for 30-year fixed mortgages rose 9 basis points in the week to 6.13 percent.
The condition of the housing market is very likely the single biggest question facing the economic outlook. The beginning of spring's warmth should better reveal the extent of demand.
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