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 9/5/07 For wk 8/31 2007 | ||||||||
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Highlights
The purchase index from the Mortgage Bankers Association rose 0.4 percent in the Aug. 31 week to 425.8. Failures of mortgage originators have raised questions over the usefulness of recent MBA data, nevertheless the results are likely to firm hopes for stability in the housing sector. The refinancing index rose 2.3 percent to 1,770.2, with refinancings making up 41.4 percent of all applications, up from 40.4 percent in the prior week. Thirty-year fixed mortgages averaged 6.42 percent in the week, up 1 basis point from the prior week.
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