Gavekal Capital: Weekly Mortgage Refinancing Apps Accounting For Lowest Share Of Total Loans Since 2009

Wednesday, April 9, 2014

Weekly Mortgage Refinancing Apps Accounting For Lowest Share Of Total Loans Since 2009

Refi loans are accounting for about half of all mortgage applications which is the lowest amount since July 2009. On the surface this seems like a positive trend back to pre-2008 levels. However, the ABSOLUTE level of mortgage apps is currently only about half of what it was pre-2008. The overall weekly MBA mortgage application index is still just slightly above 14-year lows and the refinancing index is just barely above 5-year lows.

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Gavekal Capital is a US registered investment advisory firm that manages the Gavekal Knowledge Leaders Strategy. Knowledge Leaders are a group of the world’s leading innovators with deep reservoirs of intangible capital. These companies often possess competitive advantages such as strong brand, proprietary knowledge or a unique distribution mechanism. Knowledge Leaders are largely service-based and advanced manufacturing businesses, often operating globally. Gavekal Capital seeks to identify the world’s leading knowledge companies through a proprietary process that analyzes corporate knowledge investments.
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