*SCALPSWINGSTRADDLE*

[Zephyr]

MBA Purchase Applications
Released On 12/18/2013 7:00:00 AM For wk12/13, 2013
Prior Actual
Composite Index - W/W Change 1.0 % -5.5 %
Purchase Index - W/W Change 1.0 % -6.0 %
Refinance Index - W/W Change 2.0 % -4.0 %
Highlights
The rise underway in mortgage rates is cutting off demand for mortgage applications with the Mortgage Bankers Association's composite index down 5.5 percent in the week for a more than 12 year low. The purchase index, down 6.0 percent in the week, is at its lowest level since December last year. The decline signals trouble for underlying home sales. The refinance index fell 4.0 percent in the week. The average rate for 30-year mortgages rose 1 basis point in the week to 4.62 percent, the highest level since September.