Sundown For Mortgages? Mortgage Purchase Demand (Applications) Down 6% From Previous Week, Down 13% From Same Week Last Year (Mortgage Rates UP 155% Under Biden)

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Is it sundown for the US mortgage market?

Mortgage applications decreased 10.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 16, 2024.

The Market Composite Index, a measure of mortgage loan application volume, decreased 10.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 8 percent compared with the previous week. The seasonally adjusted Purchase Index decreased 10 percent from one week earlier. The unadjusted Purchase Index decreased 6 percent compared with the previous week and was 13 percent lower than the same week one year ago.

The Refinance Index decreased 11 percent from the previous week and was 0.1 percent higher than the same week one year ago. 

One reason why mortgage demand is so low is that mortgage rates are up 155% under Biden.

Is it sundown for the US mortgage market? And when will it improve?? Probably won’t improve in New York City after Judge Engmoron’s idiotic fine of Donald Trump and family for non-crimes.

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Published by confoundedinterest17

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