Mortgage Apps Plunge Most In Over 3 Years As Refis Crash On Rate Rise

Read more on this subject: Housing
News Story Source:, Tyler Durden
Overall, mortgage applications tumbled 7.3% last week and are down over 15% in the last three weeks – the worst drop since January 2016…But the real pain is in refis – which crashed 11% in the last week (after falling 8.2% and 11.4% in the prior two weeks) as mortgage rates ticked up…

Mortgage rates are up just 10bps from 3 weeks ago.

Is the housing market really this sensitive to mortgage rates? If so, Jay Powell is in an even more serious box here than even he knows.

Read More or Make a Comment

Bookmark the permalink.

Comments are closed.