*SCALPSWINGSTRADDLE*

[Zephyr]

MBA Purchase Applications
Released On 9/18/2013 7:00:00 AM For wk9/13, 2013
Prior Actual
Composite Index - W/W Change -13.5 % 11.2 %
Purchase Index - W/W Change -3.0 % 3.0 %
Refinance Index - W/W Change -20.0 % 18.0 %
Highlights
Seasonal adjustments failed to smooth out big swings in Mortgage Bankers Association's applications data where the refinancing index is up 18 percent in the September 13 week following a 20 percent plunge in the shortened September 6 week. The purchase index is up 3.0 percent in the latest week vs a 3.0 percent dip in the prior week. The report notes that the purchase index is close to where it was before the holiday-related gyrations set in which points to flat results for underlying home sales. Rates have been on the rise but did move lower in the latest week, down 5 basis points to an average 4.75 percent for conforming loans ($417,500 or less).