Wednesday, July 06, 2005 2:20:48 PM
Market Chartmentary Update
This is an update on the Refi Charts in my Sunday’s market Chartmentary.
MBA reported this morning the latest Refinancing Application Volume as of Friday, 7/1/2005, increased by 10.2% to 2788.2 from 2529.2 the week before. The Refi volume is now at the highest level this year, and it’s climbing to the same level as April last year. The big difference is that last April the Refi volume was in the midst of a rapid decline; this April was the beginning of an uptrend.
This is indicative that the 2nd quarter GDP may come out better than expected.
This is an update on the Refi Charts in my Sunday’s market Chartmentary.
MBA reported this morning the latest Refinancing Application Volume as of Friday, 7/1/2005, increased by 10.2% to 2788.2 from 2529.2 the week before. The Refi volume is now at the highest level this year, and it’s climbing to the same level as April last year. The big difference is that last April the Refi volume was in the midst of a rapid decline; this April was the beginning of an uptrend.
This is indicative that the 2nd quarter GDP may come out better than expected.
David
#board-3693
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