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 7/25/07 For wk 7/20 2007 | ||||||||
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Highlights
The July 20 week was a slow week for mortgage applications, especially purchase applications which fell 5.0 percent from the prior week for an index of 424.2. Tightened loan standards following the subprime fallout are crimping demand as are high interest rates with 30-year fixed mortgages averaging 6.59 percent in the week. Refinancing applications also slowed, down 1.4 percent to 1,692.9. Existing home sales later this morning will be the day's focus.
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