Econoday Report: MBA Purchase Applications July 28, 2010

2010 Economic Calendar

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MBA Purchase Applications

Released on 7/28/2010 7:00:00 AM For wk7/23, 2010

	Prior	Actual
Purchase Index - W/W Change	3.4 %	2.0 %
Refinance Index - W/W Change	8.6 %	-5.9 %
Composite Index - W/W Change	7.6 %	-4.4 %

Highlights
The Mortgage Bankers Association composite index for the week ending July 23 declined a seasonally adjusted 4.4 percent from one week earlier. The refinance index decreased 5.9 percent from the previous week. However, the purchase index increased 2.0 percent from one week earlier and is the highest purchase index observed in the survey since the end of June.

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