Purchase mortgage applications rose 6.4% last week according to the Mortgage Bankers Association and major media outlets. As always, the media report only the seasonally adjusted data fed to them by the MBAA. Rarely should a week to week change have any seasonal effects, although last week would be an exception because the week before…
Tag Archive for Purchase Mortgage
Economics, Housing, Professional Edition
Cracked Economic Reports Not as Cracked Up To Be
by Lee Adler • • 0 Comments
Two key economic reports out today require closer scrutiny. Their positive readings may not be all that they appear to be on the surface. Both the MBAA’s Mortgage Applications Index and the weekly unemployment claims were reported as positives this morning. But just how good were they?
Housing, Liquidity Trader, Professional Edition
Theoretical Seeds of A Housing Bottom- Professional Edition
by Lee Adler • • 0 Comments
Purchase mortgage applications fell back to near their recent lows last week, reversing the surge from the previous week. That was caused by the FHA’s new, tougher requirements on credit scores and down payments. The week before last was the deadline for deadbeats to get in under the old easy money game rules. That blip…
Liquidity Trader, Professional Edition
House Prices Headed for Pre Y2k Levels – Professional Edition
by Lee Adler • • 0 Comments
Total employment, purchase mortgage applications, and median household incomes are at the levels of the late 1990s. What does that say about housing prices? Click here to download complete report in pdf format (Professional Edition Subscribers). Try the Professional Edition risk free for thirty days. If, within that time, you don’t find the information useful,…
Housing, Liquidity Trader, Professional Edition
House Buyers Disappear- Professional Edition
by Lee Adler • • 0 Comments
In this edition of the Housing Market Update, now posted separately from the Fed Report, we look at the stunning collapse in purchase mortgage applications this week, and rise in the Homebuilders’ survey data. That dichotomy was expected, and we know just how to reconcile it. Click here to download the complete report in pdf…