Mortgage Purchase Applications Rise 4.2% WoW! And 2 More Fed Rate Hikes To Go

By Anthony B. Sanders

But Refi Apps Still Dead and Purchase Apps Declining

The good news is that mortgage applications, according to the Mortgage Bankers Association (MBA) rose 4.2% from the preceding week. Both purchase and refinancing applications rose.

mbastats08178.png

The bad news? Refi applications are still dead.  Notice that the last large increase in mortgage rates (end of 2016) produced a large decline in refi applications. But the large increase in 2018  has produced a much smaller reaction.

mbarefdeaded

True, mortgage purchase applications rose since last week, but they are down in recent weeks as rates remain elevated.

mbapsarec

Investors expect two more rate increases this year.

2more

The Fed’s economic and rate forecast tool.

986d77644746d2e11c750ea13e1b568d--secret-code-prom-night

Support 100% ad-free Biiwii.com by making a donation of your choice!

Or better yet, subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas to get even more bang for your buck. You can also keep up to date with plenty of actionable public content at NFTRH.com by using the email form on the right sidebar. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.

Published by

Gary

NFTRH.com & Biiwii.com