Biden’s Economic Dance Macabre: Mortgage Purchase Demand Down -1% From Previous Week And Down -20% From Previous Year (Worst Home Sales Data Since The 1970s!)

Confounded Interest ^ | 11/22/2023 | Anthony B. Sanders

[Kaiser8408a]

Biden’s economic Dance Macabre! Or Biden’s Mortgage Macabre! Mortgage purchase demand actually fell -1% from the previous week (WoW) and is down -20% from the previous year (YoY).

Mortgage applications increased 3.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 17, 2023.

The Market Composite Index, a measure of mortgage loan application volume, increased 3.0 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 0.1 percent compared with the previous week. The Refinance Index increased 2 percent from the previous week and was 4 percent lower than the same week one year ago. The seasonally adjusted Purchase Index increased 4 percent from one week earlier. The unadjusted Purchase Index decreased 1 percent compared with the previous week and was 20 percent lower than the same week one year ago.

And MBA mortgage refis

Not surprising since most homeowners have locked in low borrowing costs prior to the Biden/Congress Covid spendathon and the inflation that followed.

After all, we are seeing the worst home sales data since the 1970s.

Yes, even KJP is finding it difficult to sell Bidenomics to the public (only talking heads like The View and Morning Joe are still trumpeting the greatness of Bidenomics). And now KJP and the Administration are selling Biden’s age of 81 as a treasure trove of experience. Except that Biden’s record in the Senate is an embarrasment. And Biden keeps shuffling and falling and mumbling through his speeches. Watch Biden’s handlers make sure he doesn’t fall again before the election.

[Kaiser8408a]

Biden/WEF are killing the US.

[spincaster]

Bidenomics ,we are just to dumb to realize how good it really is.

[unclebankster]

Bidenomics is a gift, a 2024 campaign gift.

[norwaypinesavage]

"Worst Home Sales Data Since The 1970s!)"

Great news for Jimmah Carter. He'll be able to die, knowing that he was NOT the worst president in USA history.

[Liz]

The dimwit Biden keeps saying Bidenomics is a boon....its just
that we Americans are too dumb to realize how good it really is.

[Liz]

It’s good to be a liberal Dem:
<><>you always feel “real good” about yourself
<><>You get to blame everyone for everything
<><>You take no responsibility for anything,
<><>You deem everything a crisis
<><>You get to label everyone against you as “extremists”
<><>You get all of your positions and activities defended by the suck-up media,
<><>The media worships you even when you change positions
<><>If you head a Crime Family in the process, like Biden, you also get very rich.

[dfwgator]

“Damn it feels good to be a liberal.”