MBA Housing Applications for 5/4 Week
Updated: May 16, 2018
The Mortgage Bankers Association reported Mortgage Applications for the week ending 5/4 for single family homes fell slightly at 0.2% from 2% from the prior week as interest rates steadied. However, with the resumption of rising yields of the 2 year Treasury rate and the 10 year back over 3% this AM it appears rates may continue higher into the next Federal Reserve Interest rate decision next month. Further, other recent housing data has shown similar weakness as well. Thus, as we have been saying for some time especially those small businesses tied directly to housing, risk aversion should be advised. We should add whether its our own bias or not unlike in past years there are quite a bit of vacancies in commercial real estate around the Charlotte area which is indicative of a cooling market. To gain from our insights please contact us or sign up for email updates via https://www.charlotteconsultantservices.com/news-update.