Beat The Heat! Mortgage Purchase Applications RISE 5% From Previous Week As Homebuyers Scramble To Beat The Fed’s Monetary Tightening

Sharing is Caring!

by confoundedinterest17

Yes, homebuyers are jumping into a generally slowing housing market to “beat the heat.” That is, beat The Fed’s monetary tightening.

Mortgage applications increased 2.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 6, 2022.

See also  Has nothing to do with monetary policy and government spending? Legacy media is trash. Blaming inflation on the Sun

The seasonally adjusted Purchase Index increased 5 percent from one week earlier. The unadjusted Purchase Index increased 5 percent compared with the previous week and was 8 percent lower than the same week one year ago.

We are primarily funded by readers. Please subscribe and donate to support us!

The Refinance Index decreased 2 percent from the previous week and was 72 percent lower than the same week one year ago.

See also  The next global mortgage crisis: Bank of Canada says mortgage payments could spike as much as 40 per cent... Average borrowing mortgage in Australia is over $600,000...

Beat the Heat!! Or Beat The Fed!!

As least inflation came in slightly cooler in April at 8.3% YoY. While housing (own or rent) is rising at over 2x CPI.

 

Views:

Leave a Comment

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