After dismal housing starts and permits data yesterday, the "housing recovery" narrative took another knock this morning as mortgage applications tumbled 4.1% last week - the biggest drop since December 2016.
While mortgage rates were unchanged, both purchases and refis fell notably...
- Purchases down 2.7% after rising 1.7% in prior week
- Refis fell 5.7% after rising 3.3% in prior week
Perhaps additionally of note the government"s programs saw a dramatic drop off in the last week...
No comments:
Post a Comment