Yes, winter is coming. It is the season when residential mortgage applications decline towards their lowest point of the year: the last week of December.

For the week ending November 2, 2018, residential mortgage applications declined 4.04% WoW with purchase applications dropping 5% and refinancing applications dropping 2.53%.

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Purchase applications dropped to their lowest level since 2016 as mortgage rates keep climbing.

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And applications to refinance a mortgage have declined since mid 2016 with interest rate increases.

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I changed my mind. Winter is here!

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