May 18, 2022

MBA Mortgage Applications (week ended (5/13/2022)

- Purchase Index week/week -11.9%. Previous weeks were +4.8%, 4.1%, -8% , -3.0%, +1.0%, -3.0%., +1.0%, -2.0%, 1.0%, +9.0%, -2.0%, -10.0%, -1.0%, -10.0%, +4.0%, -2.0%, 8.0%, and 2.0%

- Refinance Index week/week -9.5-.  Previous weeks  were 2.0%,  0.2%, -9%, -8%, -5.0%, -10.0%., -15.0%, -14.0%, -3.0%, +9.0%, +1.0%, -16.0%, -9.0%, -7.0%,  +18.0%, -13.0%, -3.0%, and -0.1%

- Composite Index week/week -11.0%.  Previous weeks were  +2.0%, 2.5%, -8.3%, -5.0%, -1.3%, -6.3%., -6.8%, -14.0%, -1.2%, 8.5%, -0.7%, -13.1%, -5.4%, -8.1%, +4.0%, -7.1%, 2.3%, and +1.4%.

Source:  MBA, Details:  https://www.mba.org/news-and-research/newsroom/news/2022/05/18/mortgage-applications-decrease-in-latest-mba-weekly-survey

 

Housing Starts and Permits (April 2022)

- Starts - Annual Rate    1,724,000. Previous was 1,728,000

- Permits - Annual Rate    1,819,000. Previous was 1,879,000

A goal must be to keep starts above the 1.500,000 annual needed to accommodate expanded population and units lost. In addition we need 400,000 more starts per year to make up for 15 years of Starts less than 1,500,000.

SFR Starts were 1,100,000.

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