Mortgage Applications Crash 30% As Borrowing Rates Surge

Dear Janet…

In the last few months, as The Fed has jawboned a rate hike into markets, mortgage applications in America have collapsed 30% to 10-month lows – plunging over 9% in the last week as mortgage rates approach 4.00%.

https://i0.wp.com/static4.businessinsider.com/image/582f57bcba6eb6d3008b54a0-1200/30-year-mortgage.png?quality=80&strip=info&w=720

https://i0.wp.com/www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/11/16/120161115_jgb3_0.jpg

We suspect the divergent surge in homebuilders is overdone…

https://i1.wp.com/www.zerohedge.com/sites/default/files/images/user3303/imageroot/2016/11/16/20161116_mba_0.jpg

Source: ZeroHedge

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