2018 Economic Calendar
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MBA Mortgage Applications  
Released On 2/7/2018 7:00:00 AM For wk2/2, 2018
PriorActual
Composite Index - W/W Change-2.6 %0.7 %
Purchase Index - W/W Change-3.0 %0.0 %
Refinance Index - W/W Change-3.0 %1.0 %

Highlights
The volume of purchase applications for home mortgages remained unchanged on a seasonally adjusted basis in the February 2 week, while refinancing applications rose 1.0 percent from the previous week despite the headwind of rising interest rates. Unadjusted, purchase applications increased 7 percent from the previous week, though the year-on-year gain shed 2.0 percentage points to 8 percent. The refinancing share of mortgage activity fell 1.4 percentage points to 46.4 percent, the lowest level since July 2017. Mortgage rates continued to rise and accelerated their climb in the week, with the average interest rate on 30-year fixed rate conforming mortgages ($453,100 or less) up 9 basis points to 4.50 percent, the highest level since April 2014.

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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