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 10/29/08 For wk 10/24 2008 | ||||||||
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Highlights
Continuing declines in mortgage rates are giving a lift to mortgage applications. MBA's index for purchase applications rose 8.5 percent in the Oct. 24 week to a still very low 303.1. The refinance index jumped 29 percent to 1,489.4. Loan rates came down again with 30-year fixed mortgages averaging 6.26 percent for a 2 basis point dip. The latest news on the housing sector, despite declining prices, has been positive, showing sales gains for new and existing homes.
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