MBA Mortgage Applications  (week ended 10/16/2015)

- Purchase Index Week/Week +16.0%. Previous weeks were -34.0%, +27.0%, -6.0%, +9.0%, -4.0%, -1.0%, +4.0%, +2.0%, -1.0%, -4.0%, +3.0%, +0.8%, and -0.1% .

- Refinance Index Week/Week +9.0%. Previous weeks were -23.0%, +24.0%, -8.0%, +18.0%, -9.0%, -10.0%, +17.0%, -1.0%, +7.0%, +3.0%, +6.0%, and +2.0%.

- Composite Index Week/Week  +11.8%. Previous weeks were -27.6%, +25.5%, -6.7%, +13.9%, -7.0%, -6.2%, +11.3%, +0.2%, +3.6%, -0.1%, +0.8%, and -1.9%.

This data and the data for the 2 previous weeks offer no insight into what is really happening with mortgage applications as they relate to real estate transactions.  These wild fluctuations are the product of the new TRID disclosures which caused some folks to apply early.

These new disclosures will in all likelihood will negatively affect Existing and New Home Sales in November and December.