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 10/1/08 For wk 9/26 2008 | ||||||||
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Highlights
More bad news on the housing sector consistent with tightening credit, this time on mortgage applications which fell 11 percent in the Sep. 26 week to an index level of 304.8. Refinancing applications really fell, down 35 percent to 1,333.9. Loan rates were little changed in the week with the average 30-year fixed mortgage at 6.07 percent.
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