refinance … BOOM!

From National Mortgage News:

Brexit Drives Mortgage Application Activity Surge: MBA

Mortgage applications increased 14.2% from one week earlier as rates dropped in reaction to the Brexit vote, according to data from the Mortgage Bankers Association.

The MBA’s Weekly Mortgage Applications Survey for the week ending July 1 found that the refinance index increased 21% from the previous week to the highest level since January 2015. Meanwhile, the market share of refi apps increased to 61.6%, the highest level since February 2016, from 58.1%.

At the same time, the seasonally adjusted purchase index increased 4% from one week earlier. On an unadjusted basis, purchase applications are up 23% over the same week in 2015.

“Interest rates continued to drop last week as markets assessed the impact of Brexit, downgrading the likelihood of additional rate hikes by the Fed, and mortgage rates for 30-year conforming loans dropped to their lowest level in over three years,” said Mike Fratantoni, the MBA’s chief economist.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) decreased to its lowest level since May 2013, 3.66%, from 3.75%.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) decreased to its lowest level since January 2011, 3.67%, from 3.74%.

The average contract interest rate for 30-year mortgages insured by the FHA decreased to its lowest level since May 2013, 3.56%, from 3.61%, while for 15-year fixed-rate mortgages, the average decreased to its lowest level since May 2013, 2.96%, from 3.02%.

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62 Responses to refinance … BOOM!

  1. Mike says:

    Good Morning New Jersey

  2. GOP's broken (the good one) says:

    @Lin_Manuel
    Catching up on the news on the way home.

    Heartsick over Alton Sterling.

    Heartbroken for his family.
    Heartsick and angry and tired.

  3. grim says:

    Wow, that Castile video is pretty horrifying, and quite damning. You don’t know what happened before she started live streaming the video, but based on what you see after she started, looks like the officer just out and shot the guy for no reason.

  4. The Great Pumpkin says:

    I don’t know people personally on here; so how am I supposed to know their personality and know whether they are being sarcastic or not? I guess I’m supposed to be the all knowing pumpkin, or get knocked down for not knowing whether someone is being sincere or a jerk-off in their post towards me.

    The Original NJ ExPat says:
    July 6, 2016 at 10:11 pm
    [59] Ain’t that the truth? I bet if we agreed with everything Pumpking said for a week and encouraged him to make more and longer posts he still wouldn’t be able to find sarcasm in the dictionary.

    Ignore the troll. He can’t distinguish between positive & negative reinforcement.

  5. The Great Pumpkin says:

    I want an apology. I knew the 42% number was bs. Joyce, the apology can start with you.

    “Sep 5, 2015 – In Newark, where 25 percent of students attend charter schools, the percentage of African-Americans choosing charters is closer to 50 percent”

  6. walking bye says:

    Hey pumpkin, I meant to mention this a while back when all were giving you a hard time about your place. In life run your own race and you will be happier. (not being sarcastic) Don’t let others pull your joy down. Take care.

  7. grim says:

    Didn’t follow the Sterling news last night, but just watched the video.

    What stands out is Sterling appears to be actively fighting the officers. This took place after he was tasered as well?

    It appears they are struggling to restrain his right arm, and how I understand it, he had a gun in his right pocket.

    Raises a lot of questions.

  8. grim says:

    Unlike the Castille shooting, it doesn’t appear Sterling notified the police that he had a concealed weapon.

  9. Comrade Nom Deplume, somewhere in NC says:

    [2] twitiot

    Why couldn’t it have been you?

  10. The Great Pumpkin says:

    6- Thank you.

  11. Juice Box says:

    Pumps take a long walk off a short bridge. You want us to finance failure indefinitely in Newark? They have failed, Zuckerberg failed too.Time to dismantle it all, you can make $100k teaching in Newark for 180 days, but no tenure and you get fired if 80% of the class does not pass the tests.

  12. It’s unclear how Sterling obtained the weapon. His rap sheet dates back two decades with several drug, firearm, theft and assault arrests. He was sentenced to five years to prison for marijuana and weapon possession in 2009, the Advocate reported.

    http://www.nydailynews.com/news/national/la-cops-shoot-kill-man-selling-music-baton-rouge-store-article-1.2700548

  13. grim says:

    Other sources stating he was also a registered sex offender.

  14. grim says:

    Jobless claims down 16k to 254k, lowest since April.

  15. grim says:

    70 straight weeks under 300k, longest stretch since 1973.

  16. D-FENS says:

    I think it’s funny watching Democratic NJ legislators from suburban districts argue that the schools in the district they represent don’t deserve more money…in front of their constituents…

  17. D-FENS says:

    RE: Castile shooting….keep your goddamn finger out of the trigger guard…

  18. Juice Box digging his own grave ( joys of home ownership) says:

    Watching FBI Director James Comey testify, not going too well, not that people will care.

  19. Juice Box digging his own grave ( joys of home ownership) says:

    Consciousness of Guilt and intent, good stuff not that it will ever be argued in court.

  20. D-FENS says:

    What difference does it make Juice?

    @HillaryClinton
    “There should be no bank too big to fail and no individual too big to jail.” —Hillary #DemDebate

  21. Juice Box digging his own grave ( joys of home ownership) says:

    Left is making Trump attacks out of the hearings, while the right is commenting on context, intent, also talking about the intentional destruction of evidence by her legal team.

  22. Tywin says:

    Pro tip: when you’re pulled over by police, or carrying a weapon, do not move unless instructed to do so. Don’t reach into your pockets. Don’t reach under the car seat. Don’t scream and shout. Don’t get into a wrestling match.

  23. nwnj3 says:

    This is a sideshow. I’d like to see them announce an investigation into the Clinton global bribery fund which was obviously the substance of some of the emails that Hillary’s team attempted to hide.

  24. Libturd questioning the gender of Hillary's Cankle fluid. says:

    It’s a shame Hillary’s not black.

  25. D-FENS says:

    Trump beats expectations, raises $51 million with GOP in June

    https://www.washingtonpost.com/news/post-politics/wp/2016/07/06/trump-raises-51-million-with-gop-in-june-including-26-million-for-his-campaign/

    He also converted the “loans” he had made to his campaign into donations. So he will not be using money raised for the GOP to pay himself back.

  26. The Great Pumpkin says:

    All I’m stating is that charter schools are not the answer. Go ahead, break up the public school system, and replace them with charters. You will get the exact same result, except teachers won’t make jack, and the owners of the schools will walk away with all the money.

    What kind of school successful school model is based on short changing one of the most important factors you can control; the teacher. Go ahead, give them 1 year contracts with no hope of having a job next year, combined with low pay, and you have some recipe for success in the long term. I can see everyone lining up to save these children under those kind of conditions (sarcasm).

    You want better teachers, start paying them better. Demanding the best while compensating them with a salary that can’t even support a family will get you no where. That’s why money doesn’t solve anything in nj education, it never makes it to the teachers. Imagine the all-stars you would attract with a 150,000 salary. You pay people a crap load of money to manage money or sport teams, but won’t ante up for your kids education. Country is so a$$ backwards it’s not even funny. They sit here complain that money can’t solve education, yet they never ever try to throw money at teachers. Instead sit here and complain that the teachers suck; ever think the pay has something to do with it?

    Best part, a bunch are guilty on this forum of doing this, people complain that teachers are overcompensated. How, I don’t know? Some people must have really low aspirations for what a good pay check looks like in nj. A good pay check is not 100,000 or less in nj. Raising a family on 60,000 is a joke, unless you like living in the hood. Not everyone has a working husband or wife to help them support their family. Even when they top out at 100,000, that is a joke for a family trying to put their kids through college. You know they won’t get financial aid, and will be screwed.

    Juice Box says:
    July 7, 2016 at 9:08 am
    Pumps take a long walk off a short bridge. You want us to finance failure indefinitely in Newark? They have failed, Zuckerberg failed too.Time to dismantle it all, you can make $100k teaching in Newark for 180 days, but no tenure and you get fired if 80% of the class does not pass the tests.

  27. GOP's broken (the good one) says:

    @mtaibbi

    Ramsey Orta,
    the man who filmed the murder of Eric Garner,
    just agreed to a plea deal in Staten Island.

    He will serve four years.

  28. D-FENS says:

    22 – Also, get a white friend to ride around with you.

  29. we found ur blog was very helpful for us. if u keep up this good work we’ll come back at ur weblog.

  30. GOP's broken (the good one) says:

    @BernieSanders
    The violence that killed

    Alton Sterling and Philando Castile

    has become an all too common occurrence for people of color and
    IT. MUST. STOP.

  31. Captain Nom Deplume, Besotted Rummy says:

    [30] twitiot

    How about it stops when you stop?

    It’s a serious proposal (yes, rare moment when I take you seriously, I know). But the climate that leads to these shootings has been caused in no small part by the very community that is “targeted” (for lack of a better word).

    Think about that for a good long while. Take as much time as you need, which in the twitiot’s case will be much more time, but it will be worth it to gain perspective (don’t go looking for tweets–tweets are for those who cannot think for themselves, promulgated by those who cannot think either).

  32. Captain Nom Deplume, Besotted Rummy says:

    I would not be at all surprised if the NRA comes out in support of Castile. Reports are he was legally carrying and announced that fact.

  33. GOP's broken (the good one) says:

    @anastaciakeeley

    The median police recruit gets only 8 hours of training in conflict de-escalation.

  34. GOP's broken (the good one) says:

    delete your post

    Captain Nom Deplume, Besotted Rummy says:
    July 7, 2016 at 12:15 pm

    How about it stops when you

  35. chicagofinance says:

    NOVATO, Calif. — A former pro football star and an advocate for athlete marijuana use have teamed up to open a gym in San Francisco that they say will be one of the first in the world to allow members to smoke pot while working out.

    Former running back Ricky Williams, who played for the Saints, Dolphins and Ravens, and Jim McAlpine, a snowboard company executive, said Power Plant Fitness also will offer edibles and topical gels for those who don’t like smoking the plant. They say using pot while exercising can help them focus or relax.

    Modal Trigger
    Former Baltimore Ravens running back Ricky WilliamsPhoto: AP
    Members of the gym, which plans to open this year, will need a medical marijuana prescription to join, but that could change if California voters legalize recreational pot in November.

    “I personally use it for focus. It’s not about getting high. It’s about keeping my mind engaged in the activity I’m in,” said McAlpine, who organizes the 420 games, athletic events aiming to stop the stigma against pot use.

    Carla Lowe, founder of Citizens Against Legalizing Marijuana, a political action committee based in Sacramento, said it’s not clear how the drug affects the body but “there’s zero evidence that marijuana helps you focus. There is evidence that it makes you dopey.”

    Her group is working to defeat the ballot measure that would legalize marijuana in California, saying it “does not bode well for the future of our country.”

    But Williams, who was suspended several times by the NFL for marijuana use, said he wants to dispel the stigma.

    “I think a lot of people buy into the stoner stereotype where guys just sit on the couch, smoke and don’t do anything, and they’re not very motivated,” said Williams, who retired from the NFL after the 2011 season. “I found when I was playing football that using cannabis helped me relax physically, relax mentally and even spiritually.”

    Any potential benefits of marijuana on exercise have not been studied thoroughly. But one doctor who works with marijuana-smoking patients says the drug can help manage post-workout pain.

    “To use cannabis in that sense for pain relief instead of the usual things you’re able to use now, like opioids, is hands down why you would use it,” said Dr. Perry Solomon, chief medical officer for HelloMD, a digital health care platform for the cannabis industry.

  36. Libturd questioning the gender of Hillary's Cankle fluid. says:

    The median Secretary of State gets only 8 hours of email usage training.

  37. chicagofinance says:

    NOVATO, Calif. — A former pro football star and an advocate for athlete marijuana use have teamed up to open a gym in San Francisco that they say will be one of the first in the world to allow members to smoke pot while working out.

    Former running back Ricky Williams, who played for the Saints, Dolphins and Ravens, and Jim McAlpine, a snowboard company executive, said Power Plant Fitness also will offer edibles and topical gels for those who don’t like smoking the plant. They say using pot while exercising can help them focus or relax.

    “I personally use it for focus. It’s not about getting high. It’s about keeping my mind engaged in the activity I’m in,” said McAlpine, who organizes the 420 games, athletic events aiming to stop the stigma against pot use.

    Carla Lowe, founder of Citizens Against Legalizing Marijuana, a political action committee based in Sacramento, said it’s not clear how the drug affects the body but “there’s zero evidence that marijuana helps you focus. There is evidence that it makes you dopey.”

    Her group is working to defeat the ballot measure that would legalize marijuana in California, saying it “does not bode well for the future of our country.”

    But Williams, who was suspended several times by the NFL for marijuana use, said he wants to dispel the stigma.

    “I think a lot of people buy into the stoner stereotype where guys just sit on the couch, smoke and don’t do anything, and they’re not very motivated,” said Williams, who retired from the NFL after the 2011 season. “I found when I was playing football that using cannabis helped me relax physically, relax mentally and even spiritually.”

    Any potential benefits of marijuana on exercise have not been studied thoroughly. But one doctor who works with marijuana-smoking patients says the drug can help manage post-workout pain.

    “To use cannabis in that sense for pain relief instead of the usual things you’re able to use now, like opioids, is hands down why you would use it,” said Dr. Perry Solomon, chief medical officer for HelloMD, a digital health care platform for the cannabis industry.

  38. grim says:

    The Castile shooting is ugly.

    He’s the guy people should be marching and protesting for. I’d protest.

    Maybe I’m putting too much weight on that Facebook video. But, he had a kid in the car? He announced he had a gun. The reaction of the police officer.

  39. GOP's broken (the good one) says:

    @Time

    Minnesota Governor asks Justice Department to investigate Philando Castile’s death

  40. Captain Nom Deplume, Besotted Rummy says:

    [34] twitiot

    Delete yourself.

    Better yet, show up on my doorstep some night and I’ll do it for you.

  41. Captain Nom Deplume, Besotted Rummy says:

    [37] grim,

    Agreed.

    What will be interesting is how they will get the anti-gun spin into this: “Well, if he wasn’t carrying, the officer wouldn’t have felt threatened? No, that won’t fly. How about . . .”

  42. joyce says:

    As a lab-coated and rubber glove wearing researcher from the South Carolina Center for Biotechnology dumped a sample of oregano into a field test kit, Mintwood Media’s Adam Eidinger produced a positive test result for cocaine with another kit simply by exposing it to the atmosphere. “This is just air,” Eidinger said, opening up a test and waving it as the reagent turned orange, indicating a positive result.

    The testing done at the press conference replicated that done earlier by the researchers, who found that a surprisingly large number of common substances generated false positive results for the presence of drugs. “While testing the specificity of the KN Reagent test kits with 42 non-marijuana substances, I observed that 70% of these tests rendered a false positive,” said Dr. Omar Bagasra, director of the Center for Biotechnology, who conducted the experiments.

    That research came as part of new report, False Positives Equal False Justice, by forensics expert John Kelly in collaboration with former FBI chief scientist and narcotics officer Dr. Frederick Whitehurst. In the report, the pair uncovered “a drug testing regime of fraudulent forensics used by police, prosecutors, and judges which abrogates every American’s constitutional rights,” as Kelly wrote in the executive summary.

    “Law enforcement officials, forensic drug analysts, and prosecutors knowingly employ the flawed Duquenois-Levine and KN Reagent tests as well as mere conclusory police reports to wrongfully prosecute and convict millions of individuals for anti-marijuana law violations,” Kelly wrote.
    https://www.washingtonpost.com/news/the-watch/wp/2015/12/28/federal-judge-drinking-tea-shopping-at-a-gardening-store-is-probable-cause-for-a-swat-raid-on-your-home/

    U.S. District Court Judge John W. Lungstrum also ruled that the police were under no obligation to know that drug testing field kits are inaccurate

  43. joyce says:

    Here’s another pro tip: Don’t become a police officer if you’re unwilling to accept any risk on the job (whether it’s from lawfully armed individuals or a dog bites, cowards). And another for the legislators and judges who enable this: F U

  44. Libturd questioning the gender of Hillary's Cankle fluid. says:

    @James Comey

    The truth is, the reason we couldn’t indict Hillary is that they don’t make ankle cuffs nor monitors in her size.

  45. Comrade Nom Deplume, somewhere in NC says:

    Breaking: Comey admits that lower level government workers would have been charged for doing what Clinton did.

    Like I said when he announced his conclusion, he didn’t do her any big favors.

  46. Comrade Nom Deplume, somewhere in NC says:

    [43] Stu

    LMAO

  47. 1987 Condo says:

    #15…Clot needs to take cred

  48. joyce says:

    As we were recently reminded, lying to federal investigators is a monumentally serious criminal offense, except when it isn’t. While the language of the relevant statute is unambiguous, the practice of applying it is a science of single instances, since such decisions depend entirely on the professional identity of the suspect.

    Aspiring global imperatrix Hillary Clinton is the most conspicuous recent beneficiary of the “Justice” Department’s deference to the privileged and powerful, but she is not the only one. Former US Attorney for Oregon Amanda Marshall has similarly been spared the prospect of five years in prison by a similar decision not to prosecute her for multiple violations of federal laws during an investigation of her official misconduct.
    http://freedominourtime.blogspot.com/

  49. Comrade Nom Deplume, somewhere in NC says:

    [47] Joyce

    In cases such as this, the prosecution is often due to making false statements during the investigation, not the underlying event. There is no evidence that Hillary made false statements to the investigators. Nor would I expect there to be. This investigation held her questioning until last. Therefore, the Clinton team could go over all of the prior statements with the people who made them to make sure that she did not contradict anything they said. In the very real sense, the difference in this situation is that they held her until last where she would know what cards were on the table. If they were serious, they would have interviewed her first, then interviewed the subordinates. That way, she does not get to see what cards were on the table.

    Furthermore, although there is no way to know in this case, the subordinates should have been warned not to discuss the questioning with others. There is no indication that this warning was ever given. Again, this is how you show difference in a situation such as this.

    Finally, there is no question that she lied. She just didn’t lie to the investigators. The fact that she made false statements to the public at large isn’t actionable in the criminal code.

  50. Comrade Nom Deplume, somewhere in NC says:

    [48] redux

    In addition, it occurs to me that the director never said that Clinton cooperated fully and answered all questions. For all we know, she could have pleaded the fifth or relied on her prior experience with Watergate and simply said “I don’t recall”.

    In that event, she has not made a false statement and she has not said anything incriminating. And since she knows what her subordinates had already told the FBI, she would know whether or not she would need to say anything further.

    This is exactly how I advise my clients in more prosaic situations in which others have been interviewed. If I know the substance of the interviews and the answers they gave, I can, and have, advised my clients to say nothing.

  51. jcer says:

    37, yep in this case there should have been limited concern about the risks, typically a criminal doesn’t alert the officer about his concealed weapons. This is particularly egregious as the guy wasn’t really committing a crime, wasn’t in a high crime area, and had no history of criminal behavior. It really was a case of some poor regular schmuck being black and getting shot as a result. The whole BLM movement is such a crock and has defended so many bad guys who were rightfully shot, it’s rare when they get behind something legitimate.

  52. Captain Nom Deplume, Besotted Rummy says:

    [47] Joyce

    Good find. Interesting comparison:

    David Patraeus and Amanda Marshall both lied to investigators: Patraeus prosecuted, Marshall not.

    Brian Nishimura (sp?) and Hillary Clinton both mishandled classified information: Nishimura prosecuted, Clinton not.

    Seems that the Obama Appointment is a Get Out of Jail Free card.

  53. Juice Box digging his own grave ( joys of home ownership) says:

    re # 49 – Hillary did lie to Congress under oath back in October about the classified emails and also released the classified emails to her Attorneys who did not have security clearance to see the materials. Those are two real issues brought up today.

  54. Captain Nom Deplume, Besotted Rummy says:

    [52] juice

    I missed those issues (or forgot them). Fairly raised though.

    Seems that Tyler was all over this kabuki theater last year
    http://www.zerohedge.com/news/2015-10-16/did-obama-telegraph-get-out-jail-free-card-hillary-national-television

  55. Juice Box digging his own grave ( joys of home ownership) says:

    # 53 – Comey also said they did not look into her non-compliance of the FOIA laws or her transcripts from her under oath testimony.

  56. 3b says:

    52 juice: all true but none of it matters. The left including the ones here will explain it all away. People say how can one even consider voting for trump? How can anyone even consider voting for Hillary?? America should stay home on Election Day.

  57. Captain Nom Deplume, Besotted Rummy says:

    Was researching Amazon Locker and it occurs to me that it may be a variation on an idea I considered, which was to set up delivery locations in places like Newcastle Delaware or Salem, NH for people in PA, NJ or Mass to get shipments and avoid sales tax.

    Amazon has a locker location in Newark, DE. Convenient to MD, but not totally inconvenient to PA and southern NJ.

    Question then becomes, for sales tax purposes, is the item taxed based on where it is delivered? I can see a boatload of state AGs getting their panties in a bunch if AMZN says we tax based on where we deliver.

  58. Captain Nom Deplume, Besotted Rummy says:

    [54] Juice

    How convenient. All the more ironic when you consider that Comey discussed “willful blindness” at length in his presser.

  59. Amerigeddon says:

    I feel pretty comfortable pulling the lever for Jill Stein in November.

    Expect fighting in the streets and a storming of the ramparts at both conventions. Hope it coincides with a massive heatwave.

  60. Amerigeddon says:

    Shrillary proves the very best crooks are ones with law degrees.

  61. Captain Nom Deplume, Besotted Rummy says:

    [59] clot

    “Shrillary proves the very best crooks are ones with law degrees.”

    I plead the 5th.

  62. Captain Nom Deplume, Besotted Rummy says:

    I will admit, I would not have expected this.

    http://money.cnn.com/2016/05/12/pf/joes-crab-shack-ends-no-tipping-policy/index.html?iid=ob_article_footer

    That’s a pretty big drop in customers in those locations. I suspect it is due to a combination of events but it speaks to the fact that customers want (1) lower prices and (2) some say over their spend.

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