MORTGAGE APPLICATIONS INDEXES MORTGAGE BANKERS ASSOCIATION OF AMERICA.

MORTGAGE APPLICATIONS INDEXES
MORTGAGE BANKERS ASSOCIATION OF
AMERICA
MARKET COMPOSITES
                     (Unadjusted)
                        Market     Purchase  Refinance   FRM     ARM
                        Index       Index      Index    Index   Index
AUG-99                  314.0       290.2      452.1    252.6  1,598.9
SEP-99                  264.9       246.0      374.6    207.0  1,476.1
OCT-99                  278.3       257.9      396.5    216.7  1,565.8
NOV-99                  260.1       235.3      404.2    201.7  1,481.5
DEC-99                  211.2       191.0      328.3    158.3  1,318.0
JAN-00                  256.2       235.9      374.5    187.2  1,701.4
FEB-00                  301.6       290.8      364.3    225.7  1,890.4
MAR-00                  338.4       334.3      362.5    260.3  1,973.0
APR-00                  344.1       343.2      349.3    274.3  1,803.3
MAY-00                  348.0       352.6      321.4    266.1  2,062.0
JUN-00                  325.0       326.9      314.2    276.3  1,345.8
JUL-00                  323.3       321.0      336.5    280.9  1,209.4
AUG-00                  333.4       324.4      385.5    294.2  1,153.3
CONVENTIONAL MARKET
                        Market     Purchase  Refinance   FRM     ARM
                        Index       Index      Index    Index   Index
AUG-99                  380.9       354.1      489.6    290.1  2,242.3
SEP-99                  322.7       304.1      398.3    236.3  2,095.7
OCT-99                  344.8       323.6      431.1    250.4  2,282.1
NOV-99                  327.8       300.2      439.9    232.8  2,275.6
DEC-99                  263.3       239.8      358.6    182.9  1,911.0
JAN-00                  314.5       291.6      407.4    211.8  2,420.9
FEB-00                  365.9       361.3      384.3    256.9  2,600.2
MAR-00                  413.2       422.0      377.3    300.1  2,732.6
APR-00                  420.2       435.6      357.6    316.9  2,539.6
MAY-00                  440.5       467.3      331.5    314.7  3,020.8
JUN-00                  390.6       401.8      345.0    313.4  1,973.3
JUL-00                  388.9       393.8      369.0    319.6  1,810.9
AUG-00                  407.6       403.3      425.4    342.6  1,742.1
GOVERNMENT MARKET
                        Market     Purchase  Refinance   FRM     ARM
                        Index       Index      Index    Index   Index
AUG-99                  202.3       198.7      257.0    189.8   473.5
SEP-99                  168.3       162.7      253.5    158.2   388.0
OCT-99                  167.1       163.9      217.0    160.3   317.0
NOV-99                  147.0       142.6      214.6    140.6   284.6
DEC-99                  124.2       121.3      168.4    117.1   277.6
JAN-00                  159.0       156.2      202.0    146.2   436.8
FEB-00                  194.2       190.1      257.4    173.5   643.0
MAR-00                  213.6       209.0      284.4    194.1   638.5
APR-00                  217.0       211.1      308.1    203.6   509.6
MAY-00                  193.7       189.2      262.3    182.8   429.0
JUN-00                  215.6       219.6      154.8    213.2   268.3
JUL-00                  213.8       216.9      165.5    216.6   151.4
AUG-00                  209.3       211.6      175.1    213.5   118.1
MARKET COMPOSITES
                     (Seasonally Adjusted)
                            Market          Purchase  Refinance   FRM
                             Index           Index      Index    Index
AUG-99                       303.1           277.5      452.1    243.8
SEP-99                       283.8           264.9      394.3    221.5
OCT-99                       291.8           272.4      404.4    227.2
NOV-99                       317.7           295.5      446.7    245.3
DEC-99                       282.2           269.9      353.9    211.2
JAN-00                       296.5           281.3      384.8    216.0
FEB-00                       300.9           286.9      382.3    225.2
MAR-00                       305.9           296.2      362.5    235.3
APR-00                       311.4           304.9      349.3    248.3
MAY-00                       313.4           312.0      321.4    239.7
JUN-00                       316.6           314.8      326.9    268.7
JUL-00                       318.3           312.2      353.2    276.7
AUG-00                       319.8           308.4      385.5    282.2
CONVENTIONAL MARKET
                            Market          Purchase  Refinance   FRM
                             Index           Index      Index    Index
AUG-99                       368.4           338.6      489.6    280.7
SEP-99                       345.8           327.7      419.3    252.7
OCT-99                       361.0           341.7      439.7    262.1
NOV-99                       400.3           379.0      486.7    280.5
DEC-99                       348.1           338.7      386.4    241.4
JAN-00                       362.4           348.6      418.6    243.2
FEB-00                       365.6           356.4      402.9    256.7
MAR-00                       374.6           373.9      377.3    272.1
APR-00                       381.2           387.0      357.6    287.5
MAY-00                       397.3           413.5      331.5    283.8
JUN-00                       381.7           387.3      359.0    305.8
JUL-00                       383.7           382.3      387.0    315.3
AUG-00                       391.7           383.5      425.4    329.2
GOVERNMENT MARKET
                            Market          Purchase  Refinance   FRM
                             Index           Index      Index    Index
AUG-99                       194.0           189.9      257.0    182.3
SEP-99                       180.4           174.8      266.2    169.6
OCT-99                       176.2           173.2      221.3    168.9
NOV-99                       179.7           176.2      234.1    172.2
DEC-99                       172.2           171.5      182.2    162.3
JAN-00                       186.4           185.0      207.9    171.5
FEB-00                       192.8           187.6      272.3    172.2
MAR-00                       191.3           185.2      284.4    173.8
APR-00                       194.9           187.6      308.1    182.9
MAY-00                       173.3           167.5      262.3    163.5
JUN-00                       207.9           211.0      160.6    205.4
JUL-00                       209.1           211.3      175.6    211.9
AUG-00                       199.6           201.2      175.1    203.6
MARKET COMPOSITES
                       ARM
                      Index
AUG-99               1,542.5
SEP-99               1,588.2
OCT-99               1,641.7
NOV-99               1,831.9
DEC-99               1,767.3
JAN-00               1,981.9
FEB-00               1,885.7
MAR-00               1,783.3
APR-00               1,632.3
MAY-00               1,856.9
JUN-00               1,318.8
JUL-00               1,189.4
AUG-00               1,105.8
CONVENTIONAL MARKET
                       ARM
                      Index
AUG-99               2,167.6
SEP-99               2,254.1
OCT-99               2,389.8
NOV-99               2,855.5
DEC-99               2,536.1
JAN-00               2,807.5
FEB-00               2,597.3
MAR-00               2,477.2
APR-00               2,304.1
MAY-00               2,724.7
JUN-00               1,939.0
JUL-00               1,786.3
AUG-00               1,673.5
GOVERNMENT MARKET
                       ARM
                      Index
AUG-99                454.0
SEP-99                416.4
OCT-99                334.2
NOV-99                344.0
DEC-99                385.9
JAN-00                510.0
FEB-00                638.5
MAR-00                571.6
APR-00                457.8
MAY-00                383.8
JUN-00                261.4
JUL-00                146.7
AUG-00                112.5