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.

About Gavekal Capital

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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