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.

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%.

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

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

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I changed my mind. Winter is here!

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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.

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