U.S. MBA Mortgage Applications Index for Aug. 22 (Table)

By Alex Tanzi

Aug. 27 (Bloomberg) -- Following is a summary of U.S. mortgage activity from the Mortgage Bankers Association.

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                 Aug. 22  Aug. 15   Aug. 8   Aug. 1  July 25
                   2008     2008     2008     2008     2008     YoY%
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                   -----Weekly Change (seasonally adjusted)---  -NSA-
Market index          0.5%    -1.5%    -1.5%     2.8%   -14.1%   -31.2%
Purchases            0.6%    -0.4%     0.0%     1.8%    -7.8%   -25.2%
Refinancing          0.3%    -3.7%    -4.2%     4.4%   -22.9%   -40.0%
Fixed rate            0.7%    -2.3%    -2.0%     3.3%   -12.9%   -25.4%
Adjustable rate      -1.6%     7.9%     5.1%    -2.9%   -26.3%   -63.8%
                   ---------- Contract Interest Rates --------  Yr. ago
FRM 30-year          6.44%    6.47%    6.58%    6.40%    6.46%    6.41%
FRM 15-year          5.94%    5.99%    6.17%    6.02%    5.98%    6.10%
ARM 1-yr Treasury    7.15%    7.07%    7.15%    7.17%    7.25%    6.52%
FHA 203(b)           6.43%    6.43%    6.56%    6.43%    6.47%    6.66%

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                 Aug. 22  Aug. 15   Aug. 8   Aug. 1  July 25  July 18
                   2008     2008     2008     2008     2008     2008
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                   ------------ Applications (unadjusted)------------
Total
 Avg. loan size    $216.9   $219.3   $216.7   $219.8   $221.9   $221.9
 Number change      -0.9%    -2.6%    -2.2%     2.4%   -13.7%    -6.1%
 $ volume change    -2.0%    -1.5%    -3.6%     1.5%   -13.7%    -6.2%
Purchases
 Avg. loan size    $225.1   $227.4   $227.7   $230.5   $230.7   $229.5
 Number change      -1.6%    -2.0%    -1.0%     1.4%    -7.7%    -6.4%
 $ volume change    -2.6%    -2.2%    -2.2%     1.3%    -7.2%    -6.6%
Refinancings
 Avg. loan size    $201.8   $204.0   $196.4   $200.7   $205.5   $210.2
 Number change       0.3%    -3.7%    -4.2%     4.4%   -22.9%    -5.6%
 $ volume change    -0.8%     0.0%    -6.3%     2.0%   -24.6%    -5.6%
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                 Aug. 22  Aug. 15   Aug. 8   Aug. 1  July 25  July 18
                   2008     2008     2008     2008     2008     2008
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Refi's as a % of
total # of loans    35.2%    34.8%    35.2%    35.9%    35.2%    39.4%
Refi's as a % of
total $ of loans    32.8%    32.4%    31.9%    32.8%    32.6%    37.3%
ARM's as a % of
total # of loans     7.9%     8.0%     7.3%     6.9%     7.3%     8.5%
ARM's as a % of
total $ of loans    13.3%    13.8%    12.2%    12.2%    12.8%    14.6%
                   ---------- Indexes (seasonally adjusted) ---------
Market index level   421.6    419.3    425.9    432.6    420.8    489.6
Purchases           315.9    314.0    315.2    315.2    309.5    335.6
Refinancings       1038.0   1034.5   1074.6   1121.8   1074.4   1392.7
Fixed rate           407.2    404.2    413.8    422.4    409.1    469.8
Adjustable rate      727.7    739.2    685.3    652.3    671.8    911.1
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Conventional Index   450.3    456.1    465.3    477.6    473.8    563.8
Conv. Purchase       366.0    368.2    370.7    375.3    376.5    405.2
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                 Aug. 22  Aug. 15   Aug. 8   Aug. 1  July 25  July 18
                   2008     2008     2008     2008     2008     2008
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                   ---------- Indexes (seasonally adjusted) ---------
Conv. Refinance      793.9    815.2    853.1    897.7    874.1   1213.9
Conv. FRMs           435.3    439.1    451.7    466.0    462.3    539.3
Conv. ARMs           759.3    804.8    744.9    716.3    711.1   1066.7
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Government Index     373.6    357.8    360.3    357.6    332.4    365.9
Government Purchas   243.8    236.0    235.5    228.8    213.4    235.7
Government Refi     2355.1   2218.5   2270.6   2332.1   2157.4   2363.1
Government FRMs      360.0    345.7    350.3    349.4    320.1    353.6
Government ARMs      674.6    626.4    582.7    541.8    605.1    640.0
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NOTE: March, 16 1990=100. Contract interest rates assume a 20% down payment. Average loan size is in thousands.

To contact the reporter on this story: Alex Tanzi in Washington at atanzi@bloomberg.net