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 8/6/08 For wk 8/1 2008 | ||||||||
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Highlights
MBA mortgage application data bounced from deep lows in the Aug. 1 week but remain deeply depressed, at 315.2 for the purchase index for a 1.8 percent week-to-week gain but still well below the four-week average of 330.0. The refinance index is also depressed, at 1,121.8 for a 4.4 percent week-to-week gain. High mortgage rates are partly to blame for the lack of interest though the average 30-year fixed loan did slip 5 basis points in the week to 6.41 percent.
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