Vital Statistics

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Vital Statistics

MORTGAGE APPLICATIONS INDEXES MORTGAGE BANKERS ASSOCIATION OF AMERICA

MARKET COMPOSITES

                             (Unadjusted)                   (Seasonally
                                                             Adjusted)

           Market   Purchase  Refinance    FRM       ARM       Market
           Index     Index      Index     Index     Index      Index

MAY-02      562.1    400.6     1,501.3     491.5   2,039.8       544.6
JUN-02      663.0    407.5     2,148.9     568.4   2,643.0       633.7
JUL-02      788.7    373.2     3,205.6     674.5   3,178.8       818.4
AUG-02    1,084.5    378.6     5,190.3     968.7   3,507.8     1,069.1
SEP-02    1,138.4    338.9     5,789.3   1,048.3   3,025.8     1,209.4
OCT-02    1,121.4    326.0     5,747.7   1,013.9   3,370.3     1,161.2
NOV-02      969.7    295.6     4,890.7     882.8   2,787.8     1,058.6
DEC-02      764.6    245.6     3,782.9     693.2   2,257.1       926.9
JAN-03    1,015.4    288.2     5,244.7     923.9   2,928.5     1,149.9
FEB-03    1,134.5    344.7     5,728.3   1,029.4   3,334.5     1,143.4
MAR-03    1,552.0    403.6     8,232.1   1,414.1   4,437.9     1,515.0
APR-03    1,161.3    419.5     5,476.4   1,037.6   3,751.5     1,121.8
MAY-03    1,517.3    454.3     7,700.4   1,383.6   4,316.8     1,543.7

                    (Seasonally Adjusted)

          Purchase  Refinance    FRM       ARM
           Index      Index     Index     Index

MAY-02     369.2     1,565.2     476.3   1,975.3
JUN-02     373.2     2,148.9     543.3   2,526.8
JUL-02     374.3     3,401.8     700.2   3,294.3
AUG-02     360.6     5,190.3     955.2   3,454.5
SEP-02     369.5     6,094.5   1,113.5   3,216.4
OCT-02     348.6     5,887.5   1,049.8   3,491.2
NOV-02     356.9     5,139.8     963.2   3,055.3
DEC-02     357.6     4,237.8     842.6   2,690.0
JAN-03     365.2     5,714.1   1,047.4   3,294.4
FEB-03     329.5     5,878.0   1,037.5   3,359.7
MAR-03     360.2     8,232.1   1,380.4   4,331.4
APR-03     373.2     5,476.4   1,002.3   3,624.0
MAY-03     416.6     8,099.5   1,407.5   4,394.7

CONVENTIONAL MARKET

                             (Unadjusted)                   (Seasonally
                                                             Adjusted)

           Market   Purchase  Refinance    FRM       ARM       Market
           Index     Index      Index     Index     Index      Index

MAY-02      756.8    540.2     1,637.8     650.9   2,929.8       736.5
JUN-02      918.3    557.0     2,387.8     773.0   3,899.2       880.8
JUL-02    1,121.9    512.5     3,599.7     944.5   4,760.2     1,166.2
AUG-02    1,568.4    522.1     5,822.2   1,385.4   5,320.0     1,548.4
SEP-02    1,659.6    471.3     6,491.0   1,512.9   4,667.9     1,761.5
OCT-02    1,627.5    455.5     6,392.2   1,453.4   5,196.3     1,683.4
NOV-02    1,396.8    411.7     5,402.0   1,256.5   4,274.4     1,518.5
DEC-02    1,103.1    345.1     4,185.1     989.2   3,438.2     1,328.1
JAN-03    1,475.4    404.9     5,827.9   1,332.2   4,410.3     1,665.3
FEB-03    1,642.8    484.6     6,351.6   1,480.0   4,979.5     1,658.4
MAR-03    2,285.9    572.0     9,254.2   2,070.4   6,705.1     2,236.5
APR-03    1,677.0    594.2     6,079.5   1,485.2   5,609.5     1,624.3
MAY-03    2,217.3    644.6     8,611.9   2,007.4   6,522.7     2,262.1

                    (Seasonally Adjusted)

          Purchase  Refinance    FRM       ARM
           Index      Index     Index     Index

MAY-02     497.7     1,707.7     633.5   2,850.1
JUN-02     510.1     2,387.8     741.3   3,740.2
JUL-02     513.9     3,818.4     981.9   4,944.6
AUG-02     497.3     5,822.2   1,368.0   5,247.7
SEP-02     514.1     6,833.6   1,605.7   4,956.8
OCT-02     487.1     6,547.6   1,503.3   5,377.1
NOV-02     496.9     5,672.3   1,365.0   4,668.1
DEC-02     502.5     4,684.9   1,194.5   4,067.9
JAN-03     512.9     6,350.6   1,505.3   4,945.7
FEB-03     463. …