The Mortgage Bankers Association (MBA) has released their weekly survey of mortgage lenders. Two numbers stand out. First, mortgage purchase applications reached their highest level since 2010 during the first week in May. Second, mortgage refinancing applications just hit the lowest level since December 2000.
First, the purchase application index NSA since 2010.
Second, mortgage refinancing applications just hit their lowest levels since December 2010.
Recent rate increases from The Federal Reserve aren’t helping as The Fed withdraws stimulus from financial markets.
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