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 5/7/08 For wk 5/2 2008 | ||||||||
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Highlights
The Mortgage Bankers' purchase index rose 12 percent to 381.3 in the May 2 week. The refinancing index rose 19 percent to 2,273.8. Mortgage rates came down in the week with 30-year fixed loans averaging 5.91 percent. Signals from this report have been distorted throughout the credit squeeze and the contraction of the mortgage banking industry. Pending home sales data will be released at 10:00 a.m. ET.
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