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MBA Mortgage Applications  
Released On 11/7/2018 7:00:00 AM For wk11/2, 2018
PriorActual
Composite Index - W/W Change-2.5 %-4.0 %
Purchase Index - W/W Change-2.0 %-5.0 %
Refinance Index - W/W Change-4.0 %-3.0 %

Highlights
Purchase applications for home mortgages fell a seasonally adjusted 5 percent in the November 2 week, putting the unadjusted purchase index 0.2 percent below its reading in the comparable week last year and at the lowest level since November 2016. Applications for refinancing were down 3 percent from the prior week, with the refinance share of mortgage of activity decreasing to 39.1 percent. The average interest rate on 30-year fixed rate conforming mortgages ($453,100 or less) rose 4 basis points from the prior week to 5.15 percent, the highest rate since April 2010. Housing inventory shortages and the highest rates in nearly 9 years are putting a damper on purchase applications and a housing market that continues to soften.

Definition
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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