• About Us
  • Contact Us
  • Cookie policy (EU)
  • Home
  • Privacy Policy
  • Video
  • Write for us
Today Headline
  • HOME
  • NEWS
    • POLITICS
    • News for today
    • Borisov news
  • FINANCE
    • Business
    • Insurance
  • Video
  • TECHNOLOGY
  • ENTERPRISE
  • LIFESTYLE
    • TRAVEL
    • HEALTH
    • ENTERTAINMENT
  • AUTOMOTIVE
  • SPORTS
  • Travel and Tourism
  • HOME
  • NEWS
    • POLITICS
    • News for today
    • Borisov news
  • FINANCE
    • Business
    • Insurance
  • Video
  • TECHNOLOGY
  • ENTERPRISE
  • LIFESTYLE
    • TRAVEL
    • HEALTH
    • ENTERTAINMENT
  • AUTOMOTIVE
  • SPORTS
  • Travel and Tourism
No Result
View All Result
TodayHeadline
No Result
View All Result

Mortgage application volume drops over 40% YoY : RealEstate

April 7, 2022
in Real Estate
0
Mortgage application volume drops over 40% YoY : RealEstate
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter


The mortgage app ratio was >50% refis until very recently. No one is going to swap out their 2.75% for 5%, so naturally refis bottomed out. Note also that preapprovals aren’t included in “mortgage applications,” a buyer needs to go into escrow for it to count(1). So the large preapproved buyer BACKLOG is invisible here. To apply for a refi, you just need to own a house and have a pulse.

Application just means starting the process. On the back end of the refis specifically, getting to closing, the people refinancing NOW seem to be the same folks having a hard time getting to the closing table. Perhaps less than perfect judgement in one area (when to refi) is correlated with less than perfect judgement in other areas (“do I cosign my friend’s $800/mo car loan?”) which leads to lower average qualification probability.

(1) This is partially engineered. The RESPA definition of “mortgage application” requires certain things, one of which is the property address. And the only document any mortgage professional is interesting in reading a “property address” off of is a fully ratified, seller signed, purchase contract. So if there’s no accepted offer, it’ll never be coded as a “mortgage application” in any of the numbers visible to number crunchers. My new hire actually noticed that when a preapproved buyer says “I’m thinking of putting an offer in on a house, but I have some last minute questions, do you want the property address?” my answer is nearly always “no I do not want the address, but what are your questions?” and questioned me on it – it’s been so long since I’ve thought about it, that I forgot that I do it, until new hire questioned me.


Tags: applicationdropsmortgageRealEstateVolumeYoY
Previous Post

Dog Cried All Night As No One Picks Her, Shelter Posts Her Photo As A ‘Last Resort’

Next Post

Penny Lancaster, 51, plants a sloppy kiss on husband Rod Stewart, 77

Related Posts

30 Social Content Ideas to Brighten Up Your June Calendar
Real Estate

30 Social Content Ideas to Brighten Up Your June Calendar

A consistent social media presence...

Read more
Refinancing a newly purchased house. Am I doing this right?
Real Estate

Refinancing a newly purchased house. Am I doing this right?

Just closed on a house...

Read more
New Home Sales Hit 2-Year Low, Falling Well Short Of Expectations
Real Estate

New Home Sales Hit 2-Year Low, Falling Well Short Of Expectations

New home sales took a...

Read more
6 Bite-Sized Steps to Buying Your First Rental Property
Real Estate

6 Bite-Sized Steps to Buying Your First Rental Property

Buying an investment property is...

Read more
Building Community: Your Guide for Running a Mastermind Group
Real Estate

Building Community: Your Guide for Running a Mastermind Group

The first rule of a...

Read more
Load More
Next Post
Penny Lancaster, 51, plants a sloppy kiss on husband Rod Stewart, 77

Penny Lancaster, 51, plants a sloppy kiss on husband Rod Stewart, 77

  • Trending
  • Comments
  • Latest
Sex/Life fans notice a HUGE editing fail in Adam Demos’ nude shower scene –

Sex/Life fans notice a HUGE editing fail in Adam Demos’ nude shower scene –

Can you get rid of a hacker on your phone?

Horror as goat gives birth to ‘humanoid kid’ with baby-like face

Trisha Paytas Destroyed The Internet By Posting Her Toilet Paper Asshole

Trisha Paytas Destroyed The Internet By Posting Her Toilet Paper Asshole

Should I pay up for toys after collapse of borrowing service Whirli? | Consumer affairs

Ranking NFL 2022 ‘Triplets,’ Part I: Bears, Falcons among least inspiring; Saints, Dolphins just below average

Ranking NFL 2022 ‘Triplets,’ Part I: Bears, Falcons among least inspiring; Saints, Dolphins just below average

Partygate: Boris Johnson faces further grilling by Labour grandees

Partygate: Boris Johnson faces further grilling by Labour grandees

Newly developed algorithms raise the bar for autonomous underwater imaging

Newly developed algorithms raise the bar for autonomous underwater imaging

About Us

Todayheadline the independent news and topics discovery
A home-grown and independent news and topic aggregation . displays breaking news linking to news websites all around the world.

Follow Us

Latest News

Should I pay up for toys after collapse of borrowing service Whirli? | Consumer affairs

Ranking NFL 2022 ‘Triplets,’ Part I: Bears, Falcons among least inspiring; Saints, Dolphins just below average

Ranking NFL 2022 ‘Triplets,’ Part I: Bears, Falcons among least inspiring; Saints, Dolphins just below average

Should I pay up for toys after collapse of borrowing service Whirli? | Consumer affairs

Ranking NFL 2022 ‘Triplets,’ Part I: Bears, Falcons among least inspiring; Saints, Dolphins just below average

Ranking NFL 2022 ‘Triplets,’ Part I: Bears, Falcons among least inspiring; Saints, Dolphins just below average

Partygate: Boris Johnson faces further grilling by Labour grandees

Partygate: Boris Johnson faces further grilling by Labour grandees

  • Real Estate
  • Education
  • Parenting
  • Cooking
  • Travel and Tourism
  • Home & Garden
  • Pets
  • Privacy & Policy
  • Contact
  • About

© 2021 All rights are reserved Todayheadline

No Result
View All Result
  • Real Estate
  • Education
  • Parenting
  • Cooking
  • Travel and Tourism
  • Home & Garden
  • Pets
  • Privacy & Policy
  • Contact
  • About

© 2021 All rights are reserved Todayheadline

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Posting....