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Mtg prch apps, PMI services

Summary:
Not a word from the analysts when they were down 6% last week. But when up 5% this week expect lots of mentions… MBA Mortgage ApplicationsHighlightsPurchase applications for home mortgages revived in the May 20 week, increasing by 5 percent from the prior week, while refinancing activity managed to post a gain of 0.4 percent despite slightly higher rates. The average 30-year mortgage for conforming loans (7,000 or less) was up 3 basis points to 3.85 percent. Purchase applications were 17 percent higher than they were a year ago, an impressive gain that points to continuing strength of a very strong housing market, as seen best in yesterday’s new home sales report for April, showing total year-on-year sales up a remarkable 23.8 percent.

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Not a word from the analysts when they were down 6% last week.

But when up 5% this week expect lots of mentions…

MBA Mortgage Applications
Mtg prch apps, PMI services
Highlights
Purchase applications for home mortgages revived in the May 20 week, increasing by 5 percent from the prior week, while refinancing activity managed to post a gain of 0.4 percent despite slightly higher rates. The average 30-year mortgage for conforming loans ($417,000 or less) was up 3 basis points to 3.85 percent. Purchase applications were 17 percent higher than they were a year ago, an impressive gain that points to continuing strength of a very strong housing market, as seen best in yesterday’s new home sales report for April, showing total year-on-year sales up a remarkable 23.8 percent.

Mtg prch apps, PMI services

Mtg prch apps, PMI services

WARREN MOSLER
Warren Mosler is an American economist and theorist, and one of the leading voices in the field of Modern Monetary Theory (MMT). Presently, Warren resides on St. Croix, in the US Virgin Islands, where he owns and operates Valance Co., Inc.

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