2008-01-23 MBA Purchase Index SA

MBA Purchase Index SA (Jan 18)

Survey n/a
Actual 439.90
Prior 461.20
Revised n/a

No recession here.

Mtg apps seem to be continuing on the upward trend that started several months ago.

2008-01-23 MBA Refinancing Index SA

MBA Refinancing Index SA (Jan 18)

Survey n/a
Actual 4178.20
Prior 3575.5
Revised n/a

And the refi machine is going full bore as well.

It was feared credit worthy borrowers would not have access to credit to refi from higher rate mtgs.