Industry News
Mortgage Industry News
MBA Mortgage Applications Dip
10/25/2017
Treasury prices continued to move lower overnight as better than expected data from Europe added to the downward pressure created by Fed Chair rumors that Taylor is leading. The US economic calendar picks up the pace today with data on manufacturing and housing. The latest Durable Goods Orders Report was stronger than expected as both the headline increase of +2.2% and core increase of +0.7% exceeded forecasts of +1.0% and +0.5%. Treasury prices have pushed lower in response. Meanwhile, the latest MBA Mortgage Applications Index showed an overall slowdown of -4.6%. Purchases slid -6.0% while refinances dipped -3.0%. Currently, the 10yr yield is at 2.439%.
