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Mtg apps, China exports, Oil

Summary:
Continuing to be negative year over year: Highlights Rising interest rates continue to dampen mortgage activity, with purchase applications for home mortgages falling a seasonally adjusted 2.3 percent in the November 9 week to the lowest level since February 2017 while refinancing applications decreased by 4.3 percent to the lowest level since December 2000. Unadjusted, purchase applications fell further into negative year-on-year territory and were 3 percent below their level in the same week last year. The refinance share of mortgage activity rose 0.3 percentage points from the prior week to 39.4 percent. Climbing to the highest level since 2010, the average interest rate on 30-year fixed rate conforming mortgages (3,100 or less) was up 2 basis points from the prior

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Continuing to be negative year over year:

Mtg apps, China exports, Oil

Highlights

Rising interest rates continue to dampen mortgage activity, with purchase applications for home mortgages falling a seasonally adjusted 2.3 percent in the November 9 week to the lowest level since February 2017 while refinancing applications decreased by 4.3 percent to the lowest level since December 2000. Unadjusted, purchase applications fell further into negative year-on-year territory and were 3 percent below their level in the same week last year. The refinance share of mortgage activity rose 0.3 percentage points from the prior week to 39.4 percent. Climbing to the highest level since 2010, the average interest rate on 30-year fixed rate conforming mortgages ($453,100 or less) was up 2 basis points from the prior week to 5.17 percent.

Trade issues taking their toll and bringing down the entire global economy:

Mtg apps, China exports, Oil

Sometimes the headlines make no sense to me vs the data…

Mtg apps, China exports, Oil

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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