US July Inflation Remains Hot (CPI At 8.5% YoY) While Real Weekly Wage Growth Remains Burned (-3.6% YoY) Mortgage Refi Apps Down -82% YoY While Mortgage Purchase Apps Down -19% YoY)

Sharing is Caring!

by confoundedinterest17

The US July inflation report remains hot, hot, hot! While mortgage purchase and refinancing applications are not, not, not.

The US consumer price index rose 8.5% in July. And real average weekly growth remains burned by horrid inflation, at -3.6% YoY.

Data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 5, 2022 revealed that … the Refinance Index increased 4 percent from the previous week and was 82 percent lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 1 percent from one week earlier. The unadjusted Purchase Index decreased 2 percent compared with the previous week and was 19 percent lower than the same week one year ago.

See also  The Federal Reserve is Now Playing a Dangerous Game to Catch Runaway Inflation...

Mortgage applications are NOT hot, hot, hot.


See also  Several states are sending out inflation relief checks, but some economists say they could further fuel rising prices

Views: 31

Leave a Comment

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