MBA Purchase Applications
Released On 9/25/2013 7:00:00 AM For wk9/20, 2013
Prior Actual
Composite Index - W/W Change 11.2 % 5.5 %
Purchase Index - W/W Change 3.0 % 7.0 %
Refinance Index - W/W Change 18.0 % 5.0 %
Highlights
Mortgage rates fell sharply in the September 20 week while mortgage applications rose sharply. Purchase applications jumped 7.0 percent to their highest level since July. This marks back-to-back weekly gains and points to strength this month for underlying home sales. Refinancing applications, where volumes have been swinging widely this month, rose 5.0 percent. Rates, reflecting the Federal Reserve's decision to delay tapering, dropped across all maturities with the average 30-year fixed rate for conforming loans ($417,500 or less) down 13 basis points in the week to 4.62 percent. Next housing data on the Econoday calendar will be later this morning at 10:00 a.m. ET with new home sales for August, a month when purchase applications were flat.
