2018 Economic Calendar
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MBA Mortgage Applications  
Released On 1/17/2018 7:00:00 AM For wk1/12, 2018
PriorActual
Composite Index - W/W Change8.3 %4.1 %
Purchase Index - W/W Change5.0 %3.0 %
Refinance Index - W/W Change11.00 %4.0 %

Highlights
The highest interest rates in ten months did not discourage home buyers and refinancing homeowners in the January 12 week, with purchase applications for home mortgages rising by a seasonally adjusted 3 percent from the prior week and applications for refinancing by 4 percent. Unadjusted, the purchase index rose 35 percent from the previous week and was 7 percent higher than the same week a year ago. The refinance share of mortgage activity fell by 0.7 percentage points to 52.9 percent. Rates rose sharply, with the average interest rate on 30-year fixed-rate conforming mortgages ($453,100 or less) up 10 basis points to 4.33 percent, the highest level since March 2017. Despite the headwind of higher mortgage rates, purchase applications are back up to a strong 7 percent year-on-year gain pace, confirming the continuation of the robust housing market strength seen in the last quarter.

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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