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Mortgage Purchase Applications Fall 6.2%, Refi Applications Fall 7.14% As Fed Tightens The Monetary Noose

Yes, The Federal Reserve has been taking it easy with monetary policy since November 2008 when their QE program began. The problem is … its is now 2018 and over 10 years after. And The Fed is finding it hard to go home to rate normalization. 

As The Fed slowly tries to normalize interest rates after its Grand Experiment, we are seeing mortgage purchase and mortgage refinancing applications shrivel like a week-old bratwurst.

Both mortgage purchase and refi applications declined again in the latest MBA Weekly Survey.

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Mortgage purchase applications started the year with a bang and have fallen to the near one-year lows.

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Mortgage refinancing applications are also seeing a decline after the usual beginning of the year surge.

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So after 10 years after abnormally low interest rates, The Federal Reserve should be renamed Sweetums Company. With former Fed Chair Janet Yellen as their eternal spokesperson.

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