2007 U.S. Economic Events & Analysis
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MBA Purchase Applications
Definition
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 9/19/07 For wk 9/14 2007
Purchase Index - Level
 Actual 452.0  
 Previous 448.0  

Highlights
The mortgage bankers' purchase index rose 0.9 percent in the Sept. 14 week to 452.0, pushing the four-week average fractionally higher to 437.4. The purchase index has held firm through August and September but may be getting a boost as loan seekers, turned away by struggling mortgage companies, file applications with multiple lenders. Nevertheless, the data may still be a positive for next week's existing-home and new-home sales data. Details follow below.

The refinance index rose 4.6 percent in the week to 1962.0 with refinancings making up a bigger share of all applications at 43.5 percent. Mortgage rates moved higher after tumbling in the prior week: 30-year fixed up 4 basis points at 6.29 percent, 15-year fixed up 9 basis points at 5.99 percent, and 1-year adjustables up 5 basis points to 6.39 percent.


 
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