Sunday, October 20, 2019
https://www.cnbc.com/2019/10/16/weekly-mortgage-applications-flat-even-though-refinance-demand-rises.html
In the past week Interest rates for mortgages have been on the rise. That being said applications to refinance a home rose 4% from the last week and was 199% higher than the same week one year ago while mortgage applications to a purchase a home fell 4% in the same week for the second week in a row. As mortgage rates continue to move higher, it is a sign to some investors that the recent lows in bond yields are now over.
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It seems that these rates are expected to be very volatile in the foreseeable future. With many pieces to the economy currently moving with policy change, new tariffs and talk of a nearing recession these rates can react in a number of ways.
ReplyDeleteIt would be interesting to know if the refinancing a home demand rose because people are trending more towards luxury remodeling. Also entry level prices to refinance a home are increasing that could push consumers to prepare the a possible recession.
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