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