Covering 40% of the US retail residential mortgage market, The Mortgage Bankers Association mortgage loan applications index is a leading indicator of single-family home sales and provides an indication as to the direction of the housing market. The index is released weekly on Wednesdays and provides information collected through the Friday of the previous week. The index is comprised of a refinance applications index and a purchase applications index. Along with the weekly reading, the index is calculated as a four-week moving average, which tends to smooth out weekly volatility. The number of applications filed for purchase or refinance gives some idea as to future home sales and consumer spending.
More Information: Mortgage Bankers Association of America
