US MBA Purchase Applications Data

MBA Purchase Applications

Released On 1/29/2014 7:00:00 AM For wk1/24, 2014 Prior Actual Composite Index - W/W Change 4.7 % -0.2 % Purchase Index - W/W Change -4.0 % 2.0 % Refinance Index - W/W Change 10.0 % -2.0 %

Highlights The purchase index bounced back a bit in the January 24 week, up 2.0 percent but still down an unadjusted year-on-year 12.0 percent in what reflects weakness for non-cash home sales. The refinance index fell 2.0 percent in the week. A plus for both purchase and refinancing demand is an ongoing dip this month in mortgage rates as the average rate for conforming loans ($417,000 or less) fell 5 basis points in the week to 4.52 percent which is the lowest rate since November. Source: Bloomberg