Posted on 08/07/2013 7:32:47 AM PDT by whitedog57
According to the Mortgage Bankers Association, mortgage applications rose slightly from the previous week. Mortgage applications increased 0.2 percent from one week earlier.
mbastats080713
The seasonally adjusted Purchase Index increased 0.73% percent from one week earlier.
mbapurcch080713
Even as the MBA’s 30 year effective rate rose from 4.69% to 4.73%.
mbsputsh30r
The average purchase loan size actually rose slightly from the previous week, although down overall since May 1st.
mbval30er
Here is a chart of the LPS house price index compared to mortgage purchase applications.
lpsmortpga
The Refinance Index was unchanged from the previous week.
mbarefim30er
The refinance share of mortgage activity was unchanged at 63 percent of total applications from previous week. The adjustable-rate mortgage (ARM) share of activity remained constant at 6 percent of total applications. The HARP share of refinance applications decreased to 36 percent from 37 percent the week prior.
On the rate side, total points for the 30 year mortgage rose 10.53%. FHA total points fell 16.31%.
ratespoints
House prices continue to skyrocket (mostly west of the Rockies) despite flat mortgage purchase applications. An investor recovery, indeed. Especially from China.
London too. 60% of new homes in central London are being bought by overseas investors. Their anecdotal evidence also suggests that this property is being left empty.
Australia likewise. How about grasshoppers and scorpions on the barby?
Here is a chart of CoreLogic’s house price increases. Wow.
clcities
nice factually incorrect headline
nice factually incorrect headline
Why wait till the body of the story to start lying?
Eventually it will all be landlords and tenants.
How did I lose?
You won’t lose.
You’ll pay it back with Baraqqi/Bernanke minibucks.
I pulled out all the equity possible from my house and refi’d at 30 yrs 3.75 fixed.
(and I’m 65 yrs old LOL)
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