Winter Is Coming! Residential Mortgage Applications Decline With Interest Rate Increases And Seasonal Effects

This is a syndicated repost courtesy of Confounded Interest. To view original, click here. Reposted with permission.

Yes, winter is coming. It is the season when residential mortgage applications decline towards their lowest point of the year: the last week of December.

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For the week ending November 2, 2018, residential mortgage applications declined 4.04% WoW with purchase applications dropping 5% and refinancing applications dropping 2.53%.


Purchase applications dropped to their lowest level since 2016 as mortgage rates keep climbing.


And applications to refinance a mortgage have declined since mid 2016 with interest rate increases.


I changed my mind. Winter is here!


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