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With all the noise from Wall Street execs and their bonuses the landscape isn't looking so shiney for main street. We have had the stress of the biggest stock market point crash ever and now we see 30 year loans are at their highest since Jan 2014. no wonder applications fell 4.1%

 mortgage applicaition

The latest US MBA mortgage data released for Valentines Day, 14 Feb

  • Mortgage market index -4.1% to 399,4
  • Purchase index falls 5.9% to 240.4
  • 30yr mortgage rate up 7bps to 4.57%, the highest level on 30yr mortgage rate since Jan 2014.
  • US MBA mortgage applications w-e 9 Feb -4.1% vs 0.7% prev

The MBA's refinance index decreased by 2% week over week, and the percentage of all new applications that were seeking refinancing ticked higher, from 46.4% to 46.5%. Adjustable rate mortgage loans accounted for 6.3% of all applications, up 0.2 percentage points from the prior week.

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