Drop In Mortgage Rates Fueling Mortgage Demand (Purchase Demand Nearing 2022 Levels)

#bubble, #inflation, Agency MBS, Banking, CMBS, CRE, Credit, ECB, Economy, Existing Home Sales, fannie mae, Fed, Freddie Mac, Gold, GSE, Housing, Inflation, Mortgage, New Home Sales, Powell, REITs, Silver, SPX, Stocks, Treasuries, Treasury, Uncategorized, Yield Curve 1 Minute

The September drop in mortgage rates is sparking the biggest boom in refinancings since the pandemic. Mortgage-refinancing applications have surged above the decade average, despite that period including the record-breaking refi boom of 2020-21 when rates fell to all-time lows. Purchase-loan demand has also rebounded to its best for this time of year since 2022, yet remains well below pre-pandemic levels.

Purchase demand (applications) nearing 2022 levels.

While not mortgage-related, gold is soaring!!

Thanks to Bloomberg’s Erica Adelberg for her amazing charts.

Unknown's avatar

Published by confoundedinterest17

Published