Bailout

MBA: Mortgage Purchase Applications Flat

By Anonymous

The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending January 8, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 14.3 percent on a seasonally adjusted basis from one week earlier. ...

The Refinance Index increased 21.8 percent from last week?s holiday adjusted index ... The seasonally adjusted Purchase Index increased 0.8 percent from one week earlier.
...
The average contract interest rate for 30-year fixed-rate mortgages decreased to 5.13 percent from 5.18 percent, with points decreasing to 1.17 from 1.28 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans.

This graph shows the MBA Purchase Index and four week moving average since 1990.

The four week moving average is now at the lowest level since July 1997.

Full post as published by Calculated Risk on January 13, 2010 (boomark / email).