From the course: Economic Indicators

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MBA mortgage applications

MBA mortgage applications

From the course: Economic Indicators

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MBA mortgage applications

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- Being familiar with mortgage data provide insight into the pace of home sales and the levels of different mortgage rates. Knowledge is power, and knowing the cost of mortgage rates before applying can give you valuable leverage and save you tens of thousands of dollars. It might keep you from overpaying. I once had a professor who said that a mortgage puts you in the same position as a medieval serf with a stone around your neck, and yet that's how most homes are financed, because people don't have the cash to buy homes outright. Mortgages show us that there are two sides to every market, a side selling and a side buying. When looking at U.S. housing, some analysts focus on permits that need to be filed, homes that need to be started, homes that are pending sales after they go under contract, but that's all on the side of the market that's selling homes. Before a home is sold and before it comes under contract, there needs to be a buyer, and since most people don't pay cash outright…

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