Mortgage Demand Increases 6.3% Since Last Week On Rate Declines, But Purchase Demand Down 32% Since Last 12 months, Refi Demand Down 44% YoY

Mortgage Demand Increases 6.3% Since Last Week On Rate Declines, But Purchase Demand Down 32% Since Last 12 months, Refi Demand Down 44% YoY – Investment Watch

by confoundedinterest17

Resident Biden has been an unmitigated disaster for the US middle class, but incredible for BIG corporate America and the donor class.

Mortgage applications increased 6.3 percent from one week earlier, in keeping with data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 5, 2023.

The Market Composite Index, a measure of mortgage loan application volume, increased 6.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 7 percent compared with the previous week. The Refinance Index increased 10 percent from the previous week and was 44 percent lower than the identical week one yr ago. The seasonally adjusted Purchase Index increased 5 percent from one week earlier. The unadjusted Purchase Index increased 5.3 percent compared with the previous week and was 32 percent lower than the identical week one yr ago.

Here is the info.

Middle class Joe as he likes to call himself is definitely BIG CORPORATE Joe. A friend of huge donor and BIG pharmam, BIG banks, BIG tech, BIG defense contractors, BIG media. No wonder Hunter Biden refers to Joe as “The BIG guy!”