Posted on 02/14/2024 6:23:04 AM PST by Kaiser8408a
Wake Joe up before the economy go goes … down any further.
Mortgage applications decreased 2.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 9, 2024.
The Market Composite Index, a measure of mortgage loan application volume, decreased 2.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 2 percent compared with the previous week. The seasonally adjusted Purchase Index decreased 3 percent from one week earlier. The unadjusted Purchase Index increased 4 percent compared with the previous week and was 12 percent lower than the same week one year ago.
The Refinance Index decreased 2 percent from the previous week and was 12 percent higher than the same week one year ago.
Mortgage rates (30Y fixed) are up 151% under Bidenomics.
(Excerpt) Read more at confoundedinterest.net ...
The mortgage rates were made artificially low during the COVID scare era.
They now reflect (mortgage buyers hope) the reckless spending of Congress.
The goodies Congress hands out for votes are not free.
“Biden and Schumer are killing us.”
They are importing young people from mainly Communist countries that will do that.
Americans of all political stripes have the funny idea that Communism keeps people under control. It oppresses most and criminalizes some. If people can’t make lots of money honestly, they might try to make it dishonestly.
Communism made Russian and Albanian gangsters into the tough guys they are.
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