Released On 10/14/2009 7:00:00 AM For wk10/9, 2009
Purchase Index - W/W Change
MBA's purchase index fell 5.0 percent in the Oct. 9 week while the refinance index edged 0.1 percent lower. Refinancings made up 67.4 percent of all applications as homeowners rush to lock in low rates. Mortgage rates moved up from near record lows with 30-year loans up 13 basis points to an average 5.02 percent.
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.
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