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Message
Mortgage applications soar 30% as homebuyer demand hits the highest level in 11 years
Posted on 1/15/20 at 1:58 pm
Posted on 1/15/20 at 1:58 pm
quote:What a perfect time for an impeachment!
Weekly mortgage applications soar 30% as homebuyer demand hits the highest level in 11 years
by Diana Olick
6hrs ago
• Purchase application volume hit the highest level since October 2009, rising 16% for the week and 8% from a year ago, according to Mortgage Bankers Association data.
• Refinance applications jumped 43% for the week and were 109% higher than one year ago.
It was a seriously strong start to 2020 in the mortgage business for new home loans and refinances.
Total mortgage application volume surged 30.2% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
Refinancing led the surge, thanks to a drop in mortgage rates. Those applications jumped 43% for the week and were 109% higher than a year ago. The refinance share of mortgage activity increased to 62.9% of total applications from 58.9% the previous week.
LINK
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Posted on 1/15/20 at 1:59 pm to NC_Tigah
insane. i keep waiting on it to slow down but it never seems to go that direction
Posted on 1/15/20 at 2:06 pm to NC_Tigah
A booming economy is not on the democrat's list of desirable results. I doubt if they even recognize it as a valid factor in an election.
Posted on 1/15/20 at 2:07 pm to NC_Tigah
Posted on 1/15/20 at 2:08 pm to NC_Tigah
Damn you Trump
Posted on 1/15/20 at 2:14 pm to NC_Tigah
Winning!
Posted on 1/15/20 at 2:17 pm to NC_Tigah
quote:
Mortgage applications soar 30% as homebuyer demand hits the highest level
The headlines weren't terribly different in 2008...
Yay bull market and everything, but this has been done before and didnt turn out well.
Posted on 1/15/20 at 2:19 pm to NYNolaguy1
Still Winning!
Posted on 1/15/20 at 2:19 pm to NC_Tigah
So most of the activity surge is due to a surge in refi?
That's not exactly an indicator of a strong economy or increased demand, in fact, it might be an indicator that people are aware the low rates might end soon.
That's not exactly an indicator of a strong economy or increased demand, in fact, it might be an indicator that people are aware the low rates might end soon.
Posted on 1/15/20 at 2:57 pm to LSUFanHouston
I’m ignorant on this subject for the most part, but is what you’re suggesting not indicative that what we may be seeing here is yet another housing market bubble formulating?
Posted on 1/15/20 at 3:03 pm to LSUFanHouston
quote:
That's not exactly an indicator of a strong economy or increased demand, in fact, it might be an indicator that people are aware the low rates might end soon.
Two minutes ago, the DJIA closed at another record high.
That's not exactly an indicator of a strong economy either. . . . . . Umpeech FotyFiih!
This post was edited on 1/15/20 at 3:05 pm
Posted on 1/15/20 at 3:04 pm to NC_Tigah
quote:
Weekly mortgage applications soar 30% as homebuyer demand hits the highest level in 11 years
Dems: This economy sucks!
Posted on 1/15/20 at 3:09 pm to LSUFanHouston
quote:
might be an indicator that people are aware the low rates might end soon.
They have been saying this since 2010
Posted on 1/15/20 at 3:28 pm to NC_Tigah
Once the fed stops pumping rocket fuel into this economy, it will not end well
Posted on 1/15/20 at 3:42 pm to Skeezer
I thought they had raised rates several times during the current administration after never raising them during the previous administration. Only in the last cycle or two had they declined to raise rates. Is that what you meant by rocket fuel?
Posted on 1/15/20 at 4:00 pm to NC_Tigah
quote:
Two minutes ago, the DJIA closed at another record high.
That's not exactly an indicator of a strong economy either. . . . . . Umpeech FotyFiih!
I think the economy is doing amazing and there are tons of data points to suggest that.
Refi activity isn't one of them.
Posted on 1/15/20 at 4:02 pm to NotoriousFSU
quote:
I’m ignorant on this subject for the most part, but is what you’re suggesting not indicative that what we may be seeing here is yet another housing market bubble formulating?
I don't think refi rates have anything to do with a bubble.
Rates have been so low for so long. You might have people out there with 5/1 loans that have reset now, and are on an annual adjustment, and they want to lock in for a new fixed rate term.
Posted on 1/15/20 at 4:21 pm to NC_Tigah
Looking at buying my first home right now
Posted on 1/15/20 at 4:30 pm to NC_Tigah
(no message)
This post was edited on 1/20/20 at 12:30 pm
Posted on 1/15/20 at 4:32 pm to cahoots
OMB, damnit.
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