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 4/23/08 For wk 4/18 2008 | ||||||||
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Highlights
The mortgage bankers' purchase index fell 6.4 percent in the April 18 week to 357.3, pushing down the four-week average to 369.9 and signaling continued weakness in the housing sector. The refinancing index fell 20 percent to 2,286.3. Despite the Federal Reserve's moves to cut short rates, loan rates are moving mostly higher with 30-year fixed mortgages jumping 30 basis points in the week to an average 6.04 percent. Yesterday's existing home sales report showed continued weakness in March. New home sales will be released tomorrow.
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