Each day the Research staff takes a look at recently released economic indicators, addressing what these indicators mean for REALTORS® and their clients. Today’s update highlights mortgage purchase applications.

  • Mortgage applications rose a modest 1.3 percent during the week ending October 7, continuing a trend of unpredictable activity, as interest rates on 30-year fixed mortgages moved up from 4.18 to 4.25 percent.
  • Purchase applications increased 1.1 percent, while refinancing applications also advanced by 1.3 percent.
  • Cash purchases—which account for 30 percent of transactions—were not captured in the data.