2018 Economic Calendar
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MBA Mortgage Applications  
Released On 4/11/2018 7:00:00 AM For wk4/6, 2018
PriorActual
Composite Index - W/W Change-3.3 %-1.9 %
Purchase Index - W/W Change-2.0 %-2.0 %
Refinance Index - W/W Change-5.0 %-2.0 %

Highlights
Purchase applications for home mortgages fell a seasonally adjusted 2 percent in the April 6 week, pushing the unadjusted Purchase Index down into negative territory for the first time this year, 0.5 percent below the level in the comparable week a year ago. Applications for refinancing also fell 2 percent from the previous week, which put the refinance share of total mortgage activity at 38.4 percent, its lowest level since September 2008. The mortgage activity decline came despite a usually supportive drop in rates, with the average interest rate on 30-year fixed rate conforming mortgages ($453,100 or less) falling by 3 basis points to 4.66 percent. Purchase applications in the red versus last year is a signal of perhaps only temporary weakness for the housing market.

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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