MBA Refinance Index

The MBA Refinance Index is basically the same thing as the MBA Purchase Index, but instead of including data about mortgage applications, it includes data on mortgage refinance applications.

This index is the leading indicator of home sales in the U.S. When the MBA Refinance Index increases, home sales do, too. One major difference between this index and its mortgage application-based bro: the MBA Purchase Index is adjusted seasonally, while the Refinance Index is not. That’s because home sales tend to follow seasonal ups and downs (i.e., more people tend to buy and sell in the summer), but mortgage refinances really don’t.