Bidenomics, The Key Bridge Collapse And The Collapsing US Mortgage Market (Mortgage Applications Collapse By 16% From Last Year)

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The cargo ship craashing into and collapsing the Key bridge in Baltimore is emblematic of Bidenomics: an ongoing wreck. And the mortgage market is the Key bridge collapse over a longer period. Specifically, from the start of Biden’s Regime in 2021.

Mortgage applications decreased 0.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 22, 2024.

The Market Composite Index, a measure of mortgage loan application volume, decreased 0.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 0.4 percent compared with the previous week. The seasonally adjusted Purchase Index decreased 0.2 percent from one week earlier. The unadjusted Purchase Index increased 0.2 percent compared with the previous week and was 16 percent lower than the same week one year ago.

The Refinance Index decreased 2 percent from the previous week and was 9 percent lower than the same week one year ago.

Employment in mortgage lending has shrunk along with collapsing mortgage originations under Biden.

Published by confoundedinterest17

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