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 4/30/08 For wk 4/25 2008 | ||||||||
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Highlights
The Mortgage Bankers' purchase index fell 4.8 percent in the April 25 week to a very low 340.1, offering the latest indication that the housing contraction is deepening. The refinance index fell 17 percent to 1,905.2. Loan rates, which have remained stubbornly high, edged down in the week with 30-year fixed mortgages averaging 6.01 percent for a 3 basis point decrease. Construction data for March will be posted tomorrow.
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