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 11/5/08 For wk 10/31 2008 | ||||||||
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Highlights
Rising mortgage rates pushed down mortgage applications in the Oct. 31 week. MBA's purchase index fell 14 percent to a very low 260.9 while the refinance index fell 28 percent to 1,075.4. Thirty-year fixed mortgage rates jumped more than 20 basis points to 6.47 percent. Application data do not brighten the outlook for the housing sector which had been showing tentative signs of improvement.
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