Quote post: @KobeissiLetter on US mortgage demand (purchase apps -2% last week, 19% below a year ago)
Purchase mortgage applications fell another 2% last week and are 19% below a year ago, even after the 30-year rate eased to 7.18%.
I think that move is too small because 7.18% is still 96 basis points above last year's 6.22%.
https://x.com/KobeissiLetter/status/2119201719099822544
Sources: MBA Nov 4: seasonally adjusted purchase index -2% in week ending Oct 30; unadjusted purchase apps -19% YoY; 30-year conf · Realtor.com: MBA purchase index -2% after seasonal adjustment; purchase applications -19% from a year ago; MBA 30-year r · Freddie Mac PMMS: 30-year FRM averaged 7.18% as of Nov 5, 2026, down from 7.24% the prior week; year-ago 6.22% · FRED/Freddie Mac: 30-year average 7.18 on 2026-11-05, 7.24 on 2026-10-29, 6.22 a year earlier
Not financial advice. For informational and educational purposes only.