General Discussion

ffr

(22,670 posts) Wed Oct 24, 2018, 03:52 PM Oct 2018

Mortgage applications weaken further as interest rates rise

The Columbus Day holiday appears to have messed around with the mortgage numbers, but a week later the numbers are now clearer, and so is the message. Higher interest rates are hitting homeowners hoping to refinance and homebuyers hoping to get in on the fall housing market.

Total mortgage application volume rose 4.9 percent last week from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. This followed a large drop the week before, when the mortgage numbers were not adjusted for the Columbus Day holiday. Taking that out now, mortgage volume is lower than it was two weeks ago for refinances and purchases. Volume was also 16 percent lower than the same week one year ago. - CNBC

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6 replies

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Mortgage applications weaken further as interest rates rise (Original Post) ffr Oct 2018 OP

Just did a little drive aroung my Wellstone ruled Oct 2018 #1

I was alerted to a house just down the street from me Pity Puddles Oct 2018 #2

Most of our Community Listings are Wellstone ruled Oct 2018 #3

Oh damn, I'm in real estate and I can't withstand another catastrophe Mr. Ected Oct 2018 #4

#TrumpSlump (R) Achilleaze Oct 2018 #5

Here we go again uponit7771 Oct 2018 #6

Wellstone ruled

(34,661 posts)

1. Just did a little drive aroung my

Reply to ffr (Original post)

Wed Oct 24, 2018, 04:58 PM

Oct 2018

community of Fourteen Hundred Homes. Have not seen this many on the Market at one time,looking like 2008,and the Broker who has the bulk of the listings,is not able to get the job done,people are not buying,and new homes have slowed to a crawl according to Neighbor who sells for one of the Big developers.

Shades of 2007 here,and we are usually on the tail end of Housing downturn events.

Pity Puddles

(98 posts)

2. I was alerted to a house just down the street from me

Reply to Wellstone ruled (Reply #1)

Wed Oct 24, 2018, 05:00 PM

Oct 2018

Dropped about 100k from the median a few years ago.

Not comfortable investing in properties while Trump's the asshole of the land.

Wellstone ruled

(34,661 posts)

3. Most of our Community Listings are

Reply to Pity Puddles (Reply #2)

Wed Oct 24, 2018, 05:28 PM

Oct 2018

fire sale purchases in 2010 to 2015 and are Rentals. Those investors want out and hunch is,these will turn and will hurt those who really need to sell.