Research >> Economics
Weekly Mortgage Applications Slightly Increase
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Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending August 1, 2008. The Market Composite Index, a measure of mortgage loan application volume, was 432.6, an increase of 2.8 percent on a seasonally adjusted basis from 420.8 one week earlier. On an unadjusted basis, the Index increased 2.4 percent compared with the previous week and was down 33.7 percent compared with the same week one year earlier.
The Refinance Index increased 4.4 percent to 1121.8 from 1074.4 the previous week and the seasonally adjusted Purchase Index increased 1.8 percent to 315.2 from 309.5 one week earlier. The Conventional Purchase Index decreased 0.3 percent while the Government Purchase Index (largely FHA) increased 7.2 percent.
The four week moving average for the seasonally adjusted Market Index is down 4.2 percent to 466.3 from 486.5. The four week moving average is down 3.7 percent to 330.0 from 342.6 for the Purchase Index, while this average is down 4.8 percent to 1266.0 from 1330.3 for the Refinance Index.
Posted: August 6, 2008 Wednesday 08:30 AM