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%.


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


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


I changed my mind. Winter is here!