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 10/17/07 For wk 10/12 2007 | ||||||||
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Highlights
The Mortgage Bankers Association's purchase index rose slightly in the Oct. 12 week to 429.1 with the four-week average at 419.9. The latest reading includes an adjustment for Columbus Day. The purchase index has been sagging in recent weeks, yet another indication that the housing market has yet to hit bottom. In other readings, the refinance index slipped slightly to 1,980.9. Mortgage rates were little changed in the week with 30-year fixed loans at 6.40 percent.
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