Biden’s Mortgage Market! Mortgage Demand (Applications) Increase By 2.5% From Previous Week As Mortgage Purchase Demand Down -20% From Last Year (Refi Demand Down -7% From Last Year While Mortgage Rate Is UP 169% Under Biden)

Confounded Interest ^ | 11/08/2023 | Anthony B. Sanders

[Kaiser8408a]

US inflation is lower than it was a year ago (cheers from The View CNN and MSNBC cheerleaders), but inflation remains stubborning above The Fed’s 2% target rate and will likely remain above 2% for the nexf few years. So mortgage demand is much like inflation … mortgage demand increased in the latest week but generally is very low compared to last year.

Mortgage applications increased 2.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 3, 2023.

The Market Composite Index, a measure of mortgage loan application volume, increased 2.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1 percent compared with the previous week. The Refinance Index increased 2 percent from the previous week and was 7 percent lower than the same week one year ago.

The seasonally adjusted Purchase Index increased 3 percent from one week earlier. The unadjusted Purchase Index increased 1 percent compared with the previous week and was 20 percent lower than the same week one year ago.

The 30-year fixed mortgage rate dropped by 25 basis points to 7.61 percent, the largest single week decline since July 2022. But, mortgage rates are up 169% under Biden and Bidenomics.

Bideomics is over, under, sideways, down. Mostly down.

[Kaiser8408a]

Here comes the night.

[CatOwner]

These headlines make understanding the information about as confusing as possible.

[Sacajaweau]

Won’t get my daughter’s job back...Was a Senior VP at a mortgage company. None of the men with the same title lost their job. There is no such thing as seniority with these companies.

[Pan_Yan]

A little honesty, Biden didn’t inflate the housing bubble, and Trump didn’t help with his continuation of free money.

[ssfromla]

I don't know about y'all but 2% inflation to me seems to be an outright lie.

Joe has never ran a business nor does he buy his own groceries so he can kiss it. Him and the others that have no idea what we're going through out here nor do they care.

Another slime piece of trash media lying to us.

[Retain Mike]

My thought exactly, CatOwner. I remember reading a book titled How to Lie with Statistics. Percentages are at the top of the list.

[SaveFerris]

(I don't know about y'all but 2% inflation to me seems to be an outright lie.) It's a deliberate lie to cover for the Disastrous Joe Biden Administration

I've seen food items up 50% or more in the past 18 months. I went grocery shopping 3x this past week. The prices tell the true story.