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MBA Application’s (Mortgage applications increased 5.7 percent from one week earlier)

WASHINGTON, D.C. (July 28, 2021)Mortgage applications increased 5.7 percent from one week earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending July 23, 2021. 

The Market Composite Index, a measure of mortgage loan application volume, increased 5.7 percent on a seasonally adjusted basis from one week earlier.

"Refinances for conventional loans increased over 11%. With over 95% of refinance applications for fixed rate mortgages, borrowers are looking to secure a lower rate for the life of their loan."  

The purchase index decreased for the second week in a row to its lowest level since May 2020, and has now declined on an annual basis for the past three months. Potential buyers continue to be put off by extremely high home prices and increased competition.

The refinance share of mortgage activity increased to 67.2 percent of total applications from 64.9 percent the previous week.

The survey covers over 75 percent of all U.S. retail residential mortgage applications, and has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks and thrifts. Base period and value for all indexes is March 16, 1990=100.

 

Word to the wise, watch those stats…read the article’s thoroughly; it’s okay to be objective (pump it up)

When RE researchers and consultants start talking about RE builders w/ stocks lol you won if the housing market is gonna come down hard!
When RE researchers and consultants start talking about RE builders w/ stocks lol you won if the housing market is gonna come down hard!

 

S&P CORELOGIC CASE-SHILLER INDEX REPORTS RECORD HIGH ANNUAL HOME PRICE GAIN OF 16.6% IN MAY (I wonder what level we fall down into)

S&PDowJonesIndices(S&PDJI)todayreleasedthelatestresultsfor the S&P CoreLogic Case-Shiller Indices, the leading measure of U.S. home prices. Data released today for May 2021 show that home prices continue to increase across the U.S. More than 27 years of history are available for the data series, and can be accessed in full by going to https://www.spglobal.com/spdji/.

YEAR-OVER-YEAR

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 16.6% annual gain in May, up from 14.8% in the previous month. The 10-City Composite annual increase came in at 16.4%, up from 14.5% in the previous month. The 20-City Composite posted a 17.0% year-over-year gain, up from 15.0% in the previous month.

Phoenix, San Diego, and Seattle reported the highest year-over-year gains among the 20 cities in May. Phoenix led the way with a 25.9% year-over-year price increase, followed by San Diego with a 24.7% increase and Seattle with a 23.4% increase. All 20 cities reported higher price increases in the year ending May 2021 versus the year ending April 2021.

The charts on the following page compare year-over-year returns of different housing price ranges

MONTH-OVER-MONTH

Before seasonal adjustment, the U.S. National Index posted a 2.1% month-over-month increase in May, while the 10-City and 20-City Composites both posted increases of 1.9% and 2.1%, respectively.

After seasonal adjustment, the U.S. National Index posted a month-over-month increase of 1.7%, and the 10-City and 20-City Composites both posted increases of 1.7% and 1.8%, respectively. In May, all 20 cities reported increases before... (More)

Disney will shutter dozens of brick-and-mortar stores

With 300 stores worldwide, the closures reflect a 20 percent cut in the brick-and-mortar footprint, according to the Los Angeles Times. Disney Company already shuttered more than a dozen stores last year.

Representatives did not say which stores would close or how many employees would be laid off. Disney shops within other retailers, including Target, are not affected by the closures.

Disney closed all of its Disney Store locations last March as the coronavirus took hold worldwide; some never reopened. As of late September, at least 10 stores in the U.S. had permanently closed, and another eight were in the process of closing, according to Disney news outlet DisKingdom.com.

https://therealdeal.com/national/2021/03/04/disney-will-shutter-dozens-of-brick-and-mortar-stores/