Mortgage Purchase Applications Fall 15.33% From Previous Week As 30Y Rates Rose To 4.84%

According to the Mortgage Bankers Association (MBA), applications to refinance residential mortgages fell 15.33% from the previous week as the 30 year mortgage rate rose to 4.84%.

mbarefiagain

Mortgage purchases applications fell 11.29% from the previous week NSA, but rose .91% SA. Here is a view since 1990 of seasonally-adjusted mortgage purchase applications showing 1) the housing bubble and 2) the slowdown in purchase apps as a result of rising mortgage rates.

mbapsarates

And rates will keep rising!

wirp911

Yes, the Federal Reserve is lurking like the alien with Ripley.

giphyripley.gif

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.