Mortgage Applications Increased 11.2 Percent From Last Week (Purchase Index Increased 8 Percent)

The US economy is gradually recovering from Bidenomics (government/donor dictated spending). Mortgage applications increased 11.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 7, 2025.

The Market Composite Index, a measure of mortgage loan application volume, increased 11.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 12 percent compared with the previous week. The seasonally adjusted Purchase Index increased 7 percent from one week earlier. The unadjusted Purchase Index increased 8 percent compared with the previous week and was 4 percent higher than the same week one year ago.

The Refinance Index increased 16 percent from the previous week and was 90 percent higher than the same week one year ago.

Mortgage rates declined for the sixth consecutive week, with the 30-year fixed rate dropping to 6.67 percent, the lowest level since October 2024. As a result, applications increased over the week and were up 31 percent from a year ago.

Turnover speeds are arisin’!

FHA Delinquencies Hit 14.98% (Biden’s Lingering Hangover)

The US housing market is still suffering a hangover from Biden’s Presidency (high housing prices, high food prices, high inflation, high oil/gas prices, etc.) Housing prices are the highest in history, now we have FHA delinquencies at almost 15%.

Way to go, Joe!

Cabbage Rolls And Coffee! Mortgage Applications Increased 20.4 Percent From One Week Earlier

The mortgage market is back! Time to polka!!

Mortgage applications increased 20.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 28, 2025.

The Market Composite Index, a measure of mortgage loan application volume, increased 20.4 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 22 percent compared with the previous week. The seasonally adjusted Purchase Index increased 9 percent from one week earlier. The unadjusted Purchase Index increased 12 percent compared with the previous week and was 2 percent higher than the same week one year ago.

The Refinance Index increased 37 percent from the previous week and was 83 percent higher than the same week one year ago.

Thank God the adults are in charge in DC instead of the children we saw at Trump’s speech last night.

DOGE Donkeys? Initial Jobless Claims SOAR In Washington DC, Over 2 Million, As “The Borg King” (Elon Musk) Takes Control (DOGE Has Saved Taxpayers Over $143 BILLION So Far)

Elon Musk, who Democrats consider to be The Borg King, and DOGE have laid-off many Federal workers. Today’s jobless claims report revealed that over 2 million Federal workers filed for unemployment benefits.

DOGE has saved taxpayers over $143 BILLION thus far.

How Democrats view Elon Musk.

Simply Unaffordable! Portugal, Canada And USA Are Least Affordable, Hawaii And California Are The Least Affordable US States

Housing is simply unaffordable in many parts of the USA and world. Its the same all over the world. except Romania and Finland.

The most unaffordble countries are Portugal, Canada, the USA, Switzerland, and the Czech Republic. The most affordable? Romania, Finland, Italy, and Bulgaria.

For the USA, Hawaii and California are the least affordable while West Virginia and Iowa are the most affordable.

Consumer Confidence In Housing Remains Grim At 30 (100 Is Breaking Point)

The US got hit with 2 deadly viruses in 2020. First, Covid-19 struck then another deadly virus struck in late 2020 with the election of DEI-obsessed Joe Biden, the worst President in history.

With rising interest rates and housing prices under “Clueless Joe,” buying conditions for housing plunged from around 160 under Trump to an abysmal 30 under Biden. And now Trump.

Keep On Printin’! US Home Prices Accelerated To New Record High In December As Fed Kept On Printing Money (But 14 Of Top 20 Metro Areas Fell In Price From November To December 2024)

To keep house prices soaring to new highs, The Fed need to keep on printing!

For the second straight month, US home prices accelerated YoY in December (according to the latest data from S&P Global’s Case-Shiller Index). The 20-City Composite saw prices jump 0.5% MoM (faster than expected and the biggest jump since June) and accelerating MoM for the 3rd straight month.

Only Tampa FLA of the top 20 metro areas had a negative YoY price change, but 14 of the top 20 metro areas experienced price declines from November to December: Atlanta, Charlotte, Cleveland, Dallas, Detroit, Los Angeles, Minneapolis, New York, Phoenix, Portland, San Francisco, Seattle, Tampa and Washington DC.

Keep on printin’!

Doesn’t the lead singer for The Gentrys sorty of look like Matt Damon??

Pushed Too Hard By The Fed? Existing Home Sales Drop -4.9% From December As Mortgage Rates Remain Near 7% (Mortgage Rates UP 164% Under Biden!)

Did Jerome Powell and The Federal Reserve push markets too hard?

Sales of existing single-family houses, townhouses, condos, and co-ops that closed in January dropped by 4.9% from December, seasonally adjusted, to an annual rate of 4.08 million sales, according to the National Association of Realtors today.

This rate of sales was up just 2.0% from the abysmally low levels a year ago – 2024 as a whole had been the worst sales year since 1995 – and flat with the abysmally low levels two years ago.

Compared to January 2021, the sales rate was down by 36%, compared to January 2019, the sales rate was down by 25%

On a NON seasonally adjusted basis, things look even more grim.

Active inventory is up 27.6% YoY. As mortgage rates are projected to rise, things can get worse.

Mortgage rates continue to hover around 7%. Mortgage rates rose 164% under Biden!

Maybe if Fed Chair Jerome Powell is forced to wear Sky Saxon of The Seed’s wizard outfit, he will improve his policies.

House Latitudes? Mortgage Applications Down -6.6% Since Last Week, Housing Starts Down -9.8% Since December (Riders On The Storm)

I call this the house latitudes. Horse latitudes is a belt of calm air and sea occurring in both the northern and southern hemispheres between the trade winds and the westerlies. And when the ships motion stalled, the crews would jetison their cargo of horses to the delight of sharks! So, we are in state of HOUSE latitudes where the wind pushing mortgage refis and purchase apps. So we are all riders on the storm.

Mortgage applications decreased 6.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 14, 2025.

The Market Composite Index, a measure of mortgage loan application volume, decreased 6.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 4 percent compared with the previous week. The seasonally adjusted Purchase Index decreased 6 percent from one week earlier. The unadjusted Purchase Index decreased 1 percent compared with the previous week and was 7 percent higher than the same week one year ago.

The Refinance Index decreased 7 percent from the previous week and was 39 percent higher than the same week one year ago.

Privately-owned housing starts in January were at a seasonally adjusted annual rate of 1,366,000. This is 9.8 percent below the revised December estimate of 1,515,000 and is 0.7 percent below the January 2024 rate of 1,376,000. Single-family housing starts in January were at a rate of 993,000; this is 8.4 percent below the revised December figure of 1,084,000. The January rate for units in buildings with five units or more was 355,000.

Economists are strange.

US Industrial Production Surges Most Since Oct 2022 (Capacity Utilization Rose To 77.8%, But Still Below The Critical 80% Barrier)

Silver Thread and Golden Needles under Trump? Yes, while under Biden/Harris we had lead thread and pyrite needles (governmrnt directed investment).

In January, US Industrial Production rose 2.00% YoY, the strongest growth rate since Oct 2022.

Capacity Utilization accelerated again in January (2nd straight month), rejecting the recessionary red flags. But CAPUTE remains below the critcal measure of 80.

Biden/Harris’ economic policies were no good.