2018 Economic Calendar
2019 Econoday Investor's Journal Buy Now
POWERED BY  econoday logo
U.S. & Intl Recaps   |   Event Definitions   |   Today's Calendar   |   

MBA Mortgage Applications  
Released On 12/5/2018 7:00:00 AM For wk11/30, 2018
PriorActual
Composite Index - W/W Change5.5 %2.0 %
Purchase Index - W/W Change9.0 %1.0 %
Refinance Index - W/W Change1.0 %6.0 %

Highlights
Driven by the third consecutive weekly drop in interest rates, mortgage activity increased in the November 30 week, with purchase applications up a seasonally adjusted 1 percent and refinancing up 6 percent from the prior week. Results from the prior week, when seasonally adjusted purchase applications showed a much stronger 9 percent increase, included an adjustment for the Thanksgiving holiday. Unadjusted, purchase applications rose 36 percent compared to the previous week but were just 0.2 percent higher than in the same week last year, shedding almost all of the previous week's 2 percent year-on-year gain. The refinance share of mortgage activity rose 2.5 percentage points to 40.4 percent. The average interest rate on 30-year fixed-rate conforming mortgages ($453,100 or less) fell 4 basis points from the prior week to 5.08 percent. Indicating fewer jumbo borrowers or perhaps more first-time buyers, the average loan size for purchase applications decreased from $313,000 to $298,000, the lowest level since December 2017.

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
 
 

powered by  [Econoday]