One Time

Mortgage applications for purchase soared last week. A large reason for that was that FHA's new requirements went into effect this week and the deadline for getting a mortgage under the old requirements was last week.

My understanding is that the LEI uses mortgage applications as a large input, so we should see a pop this week. But we will not know the real level of mortgage demand until we see how mortgage applications do in the coming weeks.

1 comment:

Chaos! said...

Market rally is finally being embraced on the CBOE. Call buying reached extreme levels early. May be approaching a selling opportunity.