This is a syndicated repost published with the permission of Confounded Interest. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.
Ah, mortgage applications in December remind me of the old Andy Williams song, “It’s The Most Wonderful Time Of The Year.” But not for mortgage lenders, brokers and correspondents.
The seasonally unadjusted mortgage purchase applications index from the Mortgage Bankers Association fell 7.40% from the preceding week.
Yes, it’s that least wonderful time of the year for the mortgage industry.
The MBA mortgage refinancing index is down 3.6% from the preceding week. Mortgage rate spikes in 2016 and 2013 are boxed in pink.
The least wonderful time of the year for the mortgage industry is upon them once again.
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