Mortgage volume tanks; Jamie Dimon bashes the FHA

[Crewleader]

Mortgage volume tanks; Jamie Dimon bashes the FHA

Diana 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

[House of Roberts]

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]

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]

3. Two more payments and I never have to worry about this again. n/t

[westerebus]

5. Congradulations!

[Crewleader]

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]

8. Amazing what they can do these days.

Always good to see you.

[Crewleader]

6. Congratulations Indeed OnlinePoker!

[merrily]

4. I don't like Dimon, even a little. That is all.