Mortgage Purchase Applications Increase 11% WoW And Up 7% YoY, But Its Mostly Downhill From Here Until January

This is a syndicated repost courtesy of Snake Hole Lounge. To view original, click here. Reposted with permission.

Mortgage applications increased 9.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending September 8, 2017. This week’s results included an adjustment for the Labor Day holiday.

The seasonally adjusted Purchase Index increased 11 percent from one week earlier. The unadjusted Purchase Index decreased 13 percent compared with the previous week and was 7 percent higher than the same week one year ago.  Since Purchase Apps often peak in early May, it will be mostly downhill until the end of the year.


It seems that mortgage purchase applications have finally escaped the curse of “The Sanders Polynomial.”

.The Refinance Index increased 9 percent from the previous week. Mortgage refi applications have been subdued since the election run-up in rates.


The percentage of adjustable-rate mortgages (ARMs)  remains low at 6.7%.


Wall Street Examiner Disclosure:Lee Adler, The Wall Street Examiner reposts third party content with the permission of the publisher. I am a contractor for Money Map Press, publisher of Money Morning, Sure Money, and other information products. I curate posts here on the basis of whether they represent an interesting and logical point of view, that may or may not agree with my own views. Some of the content includes the original publisher's promotional messages. In some cases I receive promotional consideration on a contingent basis, when paid subscriptions result. The opinions expressed in these reposts are not those of the Wall Street Examiner or Lee Adler, unless authored by me, under my byline. No endorsement of third party content is either expressed or implied by posting the content. Do your own due diligence when considering the offerings of information providers.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.