2017 Economic Calendar
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MBA Mortgage Applications  
Released On 10/4/2017 7:00:00 AM For wk9/29, 2017
PriorActual
Composite Index - W/W Change-0.5 %-0.4 %
Purchase Index - W/W Change3.0 %1.0 %
Refinance Index - W/W Change-4.0 %-2.0 %

Highlights
Purchase applications for home mortgages rose a seasonally adjusted 1.0 percent in the September 29 week, lifting the year-on-year rate by 1 percentage point to 5 percent. Applications for refinancing fell for the third consecutive week and are down 2 percent, with the refinancing share of mortgage activity declining by 0.7 percentage points to 50.1 percent. The average interest rate on conforming 30-year fixed-rate mortgages ($424,100 or less) rose 1 basis point from the prior week to 4.12 percent. Despite the second consecutive weekly increase in purchase applications, the index has not fully recovered from weakness, some of it hurricane related, in the prior weeks, and with interest rates inching higher, demand from home buyers is not likely to be a source of support for a housing market that is mostly stumbling into year end.

Definition
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
 
 

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