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 11/28/07 For wk 11/23 2007 | ||||||||
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Highlights
Purchase applications picked up in the Nov. 23 week, up 6.1 percent to 450.1. But the gain comes in a holiday shortened week and won't affect the still bleak outlook for the housing sector. Mortgage rates are coming down, averaging 6.09 percent for fixed 30-year loans, down 9 basis points in the week. Refinancing applications fell back 15 percent to 1,862.5 with refinancings making up 45.8 percent of all applications, down from 50.3 percent in the prior week.
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