MBA: 30-Year Fixed Rate Declines

Submitted by
CalculatedRisk on Tue, 09/26/2006 - 8:19pm (7 comments)
James Bednar wrote on Wed, 9/27/2006 - 3:43 am

As always, CR, you do a fantastic job with the MBA data. Thanks for taking the time to provide this to us every week.

jb

Captain Spaulding wrote on Wed, 9/27/2006 - 4:15 am

Is there any way to divine the breakdown in refi activity between MEW and transfers out of toxic loans? For the good of all I hope it is the latter that is more heavily represented.

Captain Spaulding wrote on Wed, 9/27/2006 - 4:17 am

Also, this data suggests that even as rates retrench, affordability remains at all-time lows. Unless and until prices decline substantially, buyers will be scarce.

Mark wrote on Wed, 9/27/2006 - 5:26 am

"Refinance Applications Rise in Latest Survey"

Is this a typo?

jm wrote on Wed, 9/27/2006 - 6:24 am

Mark,

Poor wording, rather than a typo. What rose was the fraction of applications that were for refinance (as opposed to purchase), not the absolute number.

"The refinance share of mortgage activity increased to 44.3 percent of total applications from 43.7 percent the previous week. This is the highest that the refinance share has been since September 2005."

CalculatedRisk wrote on Wed, 9/27/2006 - 6:52 am

Mark, it was a typo. I actually had to write this three times last night because blogger kept going down. I kept wondering what I'd goof-up on the 3rd try!

Best Wishes.

Jim Broshar wrote on Wed, 9/27/2006 - 9:28 pm

Can anyone give the formula for calculating Purchase Index, please?

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