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 9/10/08 For wk 9/5 2008 | ||||||||
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Highlights
Lower loan rates are giving a boost to loan applications. MBA's purchase index jumped for a second straight week, up 6.4 percent to 371.5. The refinance index also rose for a second straight week, up 15.4 percent to 1,222.9. But the holiday shortened week (today's data are for the Labor Day week ended Sept. 5) may have skewed the data, adding importance to next week's report and whether an important new trend is actually forming. Thirty-year fixed mortgages averaged 6.06 percent in the week, down a very steep 33 basis points in the week.
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