US DATA: MBA refis -8.9% and the purchase index -7.3%, making the
Mtg Bankers Assoc Market Composite -8.5% seasonally adjusted in the Feb.
19 wk. The 4-wk moving ave was +1.6% with refis 68.1% of total
applications. The ave 30-yr fixed rate mtg was up to 5.03% from the
previous wek’s 4.94%. An MBA off’l said, “As many East Coast markets
were digging out from the blizzard last week, purchase applications
fell, another indication that housing demand remains relatively weak.
With home prices continuing to drift amid an abundant inventory of homes
on the market, potential homebuyers do not see any urgency to lock in
purchases.” See the survey summary on the MNI main wire.