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Related: About this forumMortgage volume tanks; Jamie Dimon bashes the FHA
Mortgage volume tanks; Jamie Dimon bashes the FHADiana Olick
Mortgage rates are barely moving, but demand among mortgage-dependent home buyers is weakening, data show.
Total mortgage application volume fell 3.6 percent on-week for the week ending July 11th on a seasonally adjusted basis, according to the Mortgage Bankers Association (MBA).
Read More Higher mortgage rates not deterring buyers
http://www.cnbc.com/id/101821023
Applications to refinance were down 0.1 percent on week, while applications for home purchase loans dropped 8 percent to their lowest level since February 2014. Purchase applications are now 17 percent lower than the same week one year ago.
"The housing sector has shown little recent progress," noted Federal Reserve Chair Janet Yellen in a semi-annual report to Congress Tuesday. "While this sector has recovered notably from its earlier trough, housing activity leveled off in the wake of last year's increase in mortgage rates, and readings this year have, overall, continued to be disappointing."
http://www.cnbc.com/id/101839352
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Mortgage volume tanks; Jamie Dimon bashes the FHA (Original Post)
Crewleader
Jul 2014
OP
House of Roberts
(5,189 posts)1. No, Dimon,
the real question is, given their track record, should JP Morgan be allowed to continue in the FHA and VA programs at all?
JPMorgan has agreed to pay over $600 million to the FHA and the Department of Veterans Affairs for defective loans. It originated far fewer FHA loans in the second quarter of this year.
Dimon is always whining, and trying to 'work the refs'.
FreakinDJ
(17,644 posts)2. Que: the Chinese "Cash" buyers scooping up 24% of ALL available homes
Don't need a mortgage if your paying with cash
And it is Freezing normal American families OUT of the market
OnlinePoker
(5,727 posts)3. Two more payments and I never have to worry about this again. n/t
westerebus
(2,976 posts)5. Congradulations!
Crewleader
(17,005 posts)7. Nice seeing you westerebus
Your old friend Crewleader recently had cataract surgery and now I'm enjoying the view!
Hope all is well with you my friend.
westerebus
(2,976 posts)8. Amazing what they can do these days.
Always good to see you.
Crewleader
(17,005 posts)6. Congratulations Indeed OnlinePoker!
merrily
(45,251 posts)4. I don't like Dimon, even a little. That is all.