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 4/18/07 For wk 4/13 2007 | ||||||||
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Highlights
MBA's purchase index declined 4.2 percent in the April 13 week to 396.5. The four-week average edged down to 406.1 from 409.6 possibly due to lower sales over Easter weekend. The levels continue to point to stability in the housing market. Loan rates remain favorable, although the 30 year fixed rate mortgage edged up to 6.22 percent from 6.16 percent. The refinancing index edged down by 0.3 percent to 2008.4 from 2,015 as refinancings made up 43.6 percent of total loans, up from 42.8 percent in the previous week.
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