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 9/3/08 For wk 8/29 2008 | ||||||||
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Highlights
MBA's purchase index jumped 10.5 percent to 349.0 in the Aug. 29 week with the refinance index up 2.1 percent to 1,059.7. Loan rates were mostly lower in the week, perhaps a factor behind the rise in applications with 30-year fixed loans down 5 basis points to an average 6.39 percent. Good news is definitely scarce in the housing sector and this report, though only one week's data, may get some attention in today's markets.
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