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 6/4/08 For wk 5/30 2008 | ||||||||
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Highlights
MBA's purchase index fell 5.4 percent in the May 30 week to a very low 333.6 though the four-week average isn't quite as low at 354.3. The refinance index fell 26 percent to 1,496.1. A shortened Memorial holiday week may have skewed results lower. Loan rates mostly climbed in the week with 30-year fixed mortgages averaging 6.17 percent, up 11 basis points from the prior week.
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