- Demand from buyers who need a mortgage to fund the purchase of a home has been declining for months, and in the week ended July 2 fell further and is now down 14% from the same week in 2020 and down 8% from the same week in 2019.
- Mortgage applications are now at the low end of the range in 2019. The entire pandemic boom has now been worked off, plus some.
- There is now consistent taper talk coming from the Fed, including ideas about tapering its purchases of MBS sooner or faster than tapering its purchases of Treasury securities.
For further details see:
Mortgage Applications Drop 8% Below 2019