Biden’s Mortgage Market! Mortgage Demand Falls -3.1% Since Last Week, Purchase Demand Falls -3% And Down -27% Since Last Year

Confounded Interest ^ | 08/09/2023 | Anthony B. Sanders

[Kaiser8408a]

The US mortgage market is livin’ la vida Biden! And for the US mortgage market, la vida Biden in ugly.

Mortgage applications decreased 3.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 4, 2023.

The Market Composite Index, a measure of mortgage loan application volume, decreased 3.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 4 percent compared with the previous week. The Refinance Index decreased 4 percent from the previous week and was 37 percent lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 3 percent from one week earlier. The unadjusted Purchase Index decreased 3 percent compared with the previous week and was 27 percent lower than the same week one year ago.

Here is a chart of mortgage purchase applications with Biden’s record in the orange box.

Prepayment rates with rising mortgage rates (to try to cool Bidenflation) are now low by historic standards.

Here is a photo of Joe Biden (or is that Boss Tweed of NYC’s Tammany Hall)? Doesn’t matter because they are both the same corrupt person.

[Kaiser8408a]

Livin' la vida Biden. Klaus Schwab's stupid henchman.

[babble-on]

I knew this was going to be from this pinhead as soon as I saw it. Economic doomster looking at the trees, never the forest.

Trying to keep you poor readers from understanding that the economy is too strong, not too weak.