November 17, 2021

MBA Mortgage Applications (week ended 11/12/2021)

- Purchase Index week/week +2.0% . Previous weeks were  +3.0%, -2.0%., -5.0%, +4.0%, +0.2%, -2.0%, -1.0%, +2.0%,  +8.0%,  -0.2%, +1.0%, +3.0%, -1.0%., +1.8%, -2.0%, -.0%. and -6.0%.

- Refinance Index week/week  -5.0%. Previous weeks  were  +7.0%., 4.0%, -2.0%, -7.0%, -1.0%, -10.0%, -1.0%, +7.0%, -3.0%, -3.0, -4.0%, +1.0%, -5.0%, +3.2%, -2.0%, +9.0%,  and -3.0%,

- Composite Index week/week -2.8%.   Previous weeks were +5.5%, -3.3%, +0.3%,  -6.3%, +0.2%, -6.9%, -1.1%, +4.9, +0.3%, -1.9%, -2.4%, +1.6%, -3.9%, +2.8%, -1.7%,  and +5.7%.

Source:  MBA    https://www.mba.org/2021-press-releases/november/october-new-home-purchase-mortgage-applications-decreased-152-percent

 

Housing Starts and Permits  (October 2021)

- Starts - Annual Rate    1,520,000. Previous was 1.530,000

- Permits - Annual Rate    1,650,000. Previous was 1.586,000

A goal must be to keep starts above the 1.500,000 annual needed to accommodate expanded population and units lost. SFR Starts were 726,000 which was +28.3% year/year.

Source:  Census  Details:  https://www.census.gov/construction/nrc/pdf/newresconst.pdf