Gavekal Capital: US Mortgage Applications Still Can't Get Off The Mat

Wednesday, September 3, 2014

US Mortgage Applications Still Can't Get Off The Mat

Each Wednesday morning we look forward to seeing if this will be the week that mortgage applications finally start to mirror the bounce we have seen in housing starts and existing home sales this year. Once again, however, housing starts remained weak. Mortgage applications are down nearly 20% year-over-year with the refinance index down 25% and the purchase index down 11% year-over-year.

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