Mortgage applications decreased 1.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 20, 2022.
The Refinance Index decreased 4 percent from the previous week and was 75 percent lower than the same week one year ago. And under Biden, the refinance index is down -83.2%.

The good news? The seasonally adjusted Purchase Index increased 0.2 percent from one week earlier. The unadjusted Purchase Index decreased 1 percent compared with the previous week and was 16 percent lower than the same week one year ago. And the mortgage purchase applications index is down -12% under Biden.
While mortgage interest rates are up 71.7% than one year ago and mortgage rates are up 87% under Biden. As The Federal Reserve signals (but not yet accomplished) monetary tightening.

Once again, The Fed is dead set on cooling inflation caused by 1) Biden’s anti-drilling policies and 2) the remnants of the Federal government spending splurge to combat Covid. The Fed has been increasing their asset purchases (purple line) as inflation increase (blue line). Now they are signaling a decline in the balance sheet (green line) in the hope that it will cool inflation. Fat chance.

Let’s see how DEAD SET The Fed is about tightening monetary policy in the face of rising energy and food prices while a war rages in Ukraine and China in a Covid lockdown.
We are all goin’ down the road feelin’ bad under Biden.

- WTF, Who Is Running Our Country?
- DOJ Just Straight Dropping The Mask
- Left calls for war in all rural areas says cops cant do nothing
- Top Biden energy advisor thinks it’s all very f*cking funny.
- It’s going to be a very cold summer for realtors, loan officers, movers, appraisers, contractors…
- They’ll come for your cars soon.
- You Will Never See This on the News
- COMMIEFORNIA: These Prices Are Insane!
- The FBI is So Out of Control They are Now Interrogating Low Level GOP Hacks
- Monkeypox Rising, Officials Ramp Up Testing, WHO Does Emergency Meeting
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