US MBA mortgage applications w.e. 18 February -13.1% vs -5.4% prior

• Prior -5.4%
• Market index 466.4 vs 537.0 prior
• Purchase index 250.7 vs 279.0 prior
• Refinancing index 1,677.7 vs 1,988.8 prior
• 30-year mortgage rate 4.06% vs 4.05% prior

That's another sharp fall in mortgage applications as both purchases and refinancing activity are falling rather rapidly. Higher rates appear to be the problem here and is weighing on housing conditions, so that is something to be wary about. As much as the Fed hasn't exactly tightened yet, we are already seeing signs of that in the housing market as per the above.

US dollar US Dollar The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel Read this Term