Mortgage Applications Improve

Written by Posted On Monday, 07 February 2022 00:00

The big moves in rates last week also created a large move in mortgage applications. With purchase applications going up by 4% and refinances rising by 18%, people are looking to fix their costs NOW! 

Working the higher end rental markets has been going exceptionally well. All of the people I am working with are seeing a great deal of positive feedback and with rents rising rapidly, those in the luxury rental market are now seeking ownership to solve their housing issues. These borrowers often have assets, great credit, and enter the housing arena in the mid to upper range of the market, so higher loan sizes and more predictable transactions.

As this is being posted we will shortly get the unemployment numbers for this week, followed shortly thereafter by the factory orders report. Keep an eye open as these could cause some reaction.

Most importantly, Friday morning we have the January Jobs Report which always has the attention of the markets. So PLEASE keep yourself aware of the market movers and when news breaks that can impact the rate markets. With the 10yr sitting on top of resistance at 1.77, a break below that number and managing to stay there, could be very helpful to mortgage rates. However, a bounce higher and that could push mortgage rates.

The 30yr UMBS 30 is fighting to get back above 102.19, but bad news could push that coupon down toward the next level of support of 101.57. I know a 60bps move doesn’t seem like a lot given recent history, but that history tells us that that move could happen lightning fast! So just keep track of market movers, as always, if you like it, LOCK IT!

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Michael White

After 18 years working in all phases of mortgage originations, Mike left day to day originations to start his consulting and coaching company. Now, more than 18+ years later, Mike is working with clients across the country in all markets, big and small, that have generated more than three billion dollars in loan originations within a year.

Mike teaches a system that is focused on time management, action planning, marketing a message, and creating value for both clients and referral sources alike. Quite simply, providing more value leads to more opportunities, more income, less time, and a systematic approach that begs to be duplicated.


By breaking down individual aspects of the mortgage business and providing a step by step approach to creating a consistent flow of opportunities that can lead to a highly successful mortgage practice. That is why people who incorporate these strategies out produce the national averages by almost 3 to 1!

Fundamentals and simple strategies provide day to day activities that help provide a “scheduled success” philosophy. It’s all about identifying, targeting, and establishing profitable referral relationships using exceptional value to keep you in the center of your own referral triangle.

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