Mortgage Bankers Association's purchase index

Released on 7/14/2010 7:00:00 AM For wk7/9, 2010 Actual Purchase Index - W/W Change -3.1 % Refinance Index - W/W Change -2.9 Composite Index - W/W Change -2.9 Highlights In yet another negative indication for the post-stimulus housing market, the Mortgage Bankers Association's purchase index fell 3.1 percent in the July 9 week signaling yet another decline for mortgage applications. The index is at a 14 year low. Applications for refinancing, which have been very high due to low interest rates, slipped back 2.9 percent. Refinancing made up 79 percent of all applications in the week. Thirty-year mortgages edged higher to 4.69 percent, still near a record low.