US DATA: MBA refis -2.2% and the purchase index was +8.2%, making the
Mtg Bankers Assoc Market Composite -0.3% adjusted in the wk ended Feb
24. The 4-wk moving ave mkt composite was +0.33% with refis 77.9% of
total apps. The latest 30-yr fix conform mtg rate edged down to 4.07%.
MBA VP of Research Fratantoni said more than 20% or refi apps are for
HARP loans which has increased share over the past month. He said
purchase app volume is up, with still in a “narrow and anemic range.”
See the survey summary on the MNI main wire.