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 10/8/08 For wk 10/3 2008 | ||||||||
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Highlights
MBA's purchase index rose 3.2 percent in the Oct. 3 week to a still very weak 314.5, a reading that offers no indication of improvement in the housing sector. The refinance index was also higher but is also very weak at 1,345.8. Mortgage rates are falling in line with long Treasury rates but have further to fall before stimulating mortgage demand. Pending home sales today at 10:00 a.m. ET offer the next look at the U.S. housing sector which of course is at the center of global turmoil.
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