*SCALPSWINGSTRADDLE*

[Zephyr]

MBA Purchase Applications
Released On 10/30/2013 7:00:00 AM For wk10/25, 2013
Prior Actual
Composite Index - W/W Change -0.6 % 6.4 %
Purchase Index - W/W Change 1.0 % 2.0 %
Refinance Index - W/W Change -1.0 % 9.0 %
Highlights
A decline underway in rates helped give a lift to mortgage applications which rose 2.0 percent in the October 25 week. Purchase applications have now posted 2 straight weekly gains which, however, follow 3 prior straight declines. The year-on-year rate for purchase applications is in the negative column for a 5th straight week.

The decline in rates is a special boost to refinancing applications which are up 9.0 percent in the latest week. After falling 7 basis points in the prior week, the average 30-year rate for conforming loans ($417,500 or less) fell another 6 basis points to 4.33 percent which is the lowest rate since June.