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- Is the MBA Purchase Index Useful Again?
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The Mortgage Bankers Association releases a Weekly Mortgage Application Survey. I used to follow the MBA index closely, because the index was a reasonable early indicator of house sales.All that changed in early 2007 as the MBA index and house sales diverged. There were two reasons for this change: 1) many homebuyers were applying multiple times for loans (the MBA just counts applications), and 2) many lenders were going out of business - and most of these smaller lenders were not in the MBA sample. For more, see this post from May 2007: I…
Original Source: feeds.feedburner.com/CalculatedRisk
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21 May, 2008| housingblogs |
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