Econoday Report: MBA Purchase Applications 28, 2005

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2005 U.S. Economic Events & Analysis

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MBA Purchase Applications

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

Released on 9/28/05 For wk 9/23 2005

Purchase Index, Level
Actual	483.1

Highlights
The mortgage bankers' purchase index slipped for a second week, down 3.4% to a still strong level of 483.1 that indicates heavy demand for housing. The text of the report has yet to mention hurricane effects. The refinancing index, after rising in the prior week, fell 10.5% to 2,106.6. Rates rose for a second week: 30-year fixed mortgages up 4 basis points to 5.85%, 15-year fixed up 6 basis points to 5.44%, and one-year ARMs, after jumping 12 basis points in the prior week, rose another 8 basis points to 5.02%.

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