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 7/23/08 For wk 7/18 2008 | ||||||||
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Highlights
MBA's purchase index fell 6.7 percent in the July 18 week to a very weak 335.6, though the four-week average is a bit less abysmal at 351.0. The refinance index fell 5.6 percent to 1,392.7. In a bad omen for future readings and an indication of trouble in the financial sector, mortgage rates spiked in the week with 30-year fixed loans up 37 basis points to 6.59 percent.
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