*SCALPSWINGSTRADDLE*

[Zephyr]

MBA Purchase Applications
Released On 3/26/2014 7:00:00 AM For wk3/21, 2014
Prior Actual
Composite Index - W/W Change -1.2 % -3.5 %
Purchase Index - W/W Change -1.0 % 3.0 %
Refinance Index - W/W Change -1.0 % -8.0 %
Highlights
Purchase applications rose 3.0 percent in the March 21 week but failed to lift the year-on-year rate which is down a very sharp 17.0 percent. The year-on-year rate is a reminder of how important cash buyers are right now in the housing market and also a reminder that mortgage rates this year are less favorable than this time last year. The refinance index fell 8.0 percent in the week. Rates rose in the week with the average 30-year mortgage for conforming loans ($417,500 or less) up 6 basis points to 4.56 percent.