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MBA Mortgage Applications  
Released On 4/15/2009 7:00:00 AM For wk4/10, 2009
Purchase Index - Level297.7 264.1 

Easter/Passover likely held down mortgage applications in the April 10 week which saw purchase applications and refinance applications both down 11 percent, at a respective 264.1 and 6,071.7. The purchase index remains depressed but not the refinance index which is very strong reflecting historically low mortgage rates, at 4.70 percent for 30-year fixed loans for a 3 basis point dip in the week. Fifteen year mortgages are at 4.46 percent with one-year adjustables at 6.21 percent. Next data on the housing market will be the housing market index at 1:00 p.m. ET this afternoon and housing starts tomorrow morning.

The Mortgage Bankers' Association compiles various mortgage loan indexes. The purchase applications index measures applications at mortgage lenders. This is a leading indicator for single-family home sales and housing construction.  Why Investors Care

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