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 6/25/08 For wk 6/20 2008 | ||||||||
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Highlights
MBA's purchase index dropped 7.4 percent in the June 20 week to a very weak 333.4 with the four-week average showing less trouble at 350.8. The refinance index fell 12 percent to 1,212.2. Loan rates fell steeply in the week, perhaps pointing to a pick up in application activity in the weeks ahead. The average rate for a 30-year fixed mortgage fell 18 basis points in the week to 6.39 percent. New home sales for May will be released at 10:00 a.m. ET.
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