2017 Economic Calendar
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MBA Mortgage Applications  
Released On 11/1/2017 7:00:00 AM For wk10/27, 2017
PriorActual
Composite Index - W/W Change-4.6 %-2.6 %
Purchase Index - W/W Change-6.0 %-1.0 %
Refinance Index - W/W Change-3.0 %-5.0 %

Highlights
Purchase applications for home mortgages fell by a seasonally adjusted 1.0 percent in the October 27 week, posting the second weekly decline in what may be a reaction to another uptick in mortgage rates. Refinancing applications, which tend to be more sensitive to interest rate movements, fell by 5 percent from the previous week, taking the refinancing share of total application activity down 0.8 percentage points to 48.7 percent. The average interest rate on conforming 30-year fixed-rate mortgages ($424,100 or less) rose 4 basis points to 4.22 percent, the highest rate since July. Despite the weekly decline, purchase applications remain a very solid 10 percent above the year ago level and give a positive signal for underlying home sales.

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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