Posted on 05/17/2023 4:42:12 AM PDT by Kaiser8408a
Biden’s economy and mortgage market are like a bad wine hangover. Thanks to inflation and The Fed’s tightening to fight inflation, mortgage purchase demand is down a staggering -42.4% since April 2021.
Mortgage applications decreased 5.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 12, 2023.
The Market Composite Index, a measure of mortgage loan application volume, decreased 5.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6 percent compared with the previous week. The Refinance Index decreased 8 percent from the previous week and was 43 percent lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 4.8 percent from one week earlier. The unadjusted Purchase Index decreased 5 percent compared with the previous week and was 26 percent lower than the same week one year ago.
Bottle of wine, fruit of Biden’s and Yellen’s BAD economic policies.
(Excerpt) Read more at confoundedinterest.net ...
They are purposely destroying the housing market by means of changing credit score for loans and inflation.
Its a direct attack on wealth held by Americans.
I have a more specific thought...it’s a direct,deliberate,attack on the middle class (and working class).
Enter socialism leading to communism.
Related article:
“Renter Nation Rout - Multi-Family Home Permits Plunged Again In April As Rates Rose”
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