home purchases

If Two Basis Points Can Do This, Imagine What Four Might Do

By Jeffrey P. Snider|2014-06-18T11:58:16-04:00June 18th, 2014|Economy, Federal Reserve/Monetary Policy, Markets, Real Estate|

In addition to continued retrenchment in housing construction (and likely sales as we will see next week) mortgage applications absolutely plunged again this week. According to the latest estimates from the Mortgage Bankers Association, their application index fell 9.2% from the prior week. That’s a pretty large drop reminiscent of the worst financial days last fall. Refis, as has been [...]

No Home For Mortgages

Barclays results were somewhat unexpected, mostly because the size of the declines in revenues across investment banking (-37% Y/Y profits) were much weaker than first estimates. It was very much expected that fixed income “trading” would see broadly lower results, and that was confirmed, but the scale of the reactionary “cost management” efforts seems a bit disproportionate. The bank indicated [...]

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