Deader Than Dead: as Mortgage Rates Rise, Refinancings Hit 18-Year Low

Sharing is Caring!

via confoundedinterest:

Rising interest rates have led to the lowest level of mortgage refinancing applications since December 2000.

mbarefi30.png

And compared to the “Go Go” days of the housing bubble, mortgage purchase applications are back to 1997 levels and growing at a tepid rate (by comparison).

mbaprate.png

Even rising home prices aren’t thwarting mortgage purchase lending.

mvahp

But at least mortgage purchase applications are down only 2.44% over the previous week.

mbassts0808.png

To paraphrase Freddie “Boom Boom” Cannon, mortgage refinancings are NOT where the action is.

See also  Fed is still buying billions worth of mortgage backed securities every single week - When will this end?
Trending:
See also  Democrats To The Fed: Stop Raising Rates!

Views: 0

Leave a Comment

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