Joel Kan


Last quote by Joel Kan

Refinance applications increased 3 percent, but the refinance share of applications (at 48.6 percent) was the lowest since August 2017. Purchase activity was almost 9 percent higher than the same week a year
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Oct 19 2017
We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Joel Kan is associated, including Mario Draghi, Central Bank, and purchase. Most recently, Joel Kan has been quoted saying: “Treasury yields were relatively flat last week. While the [Federal Open Market Committee] minutes showed an increased likelihood of one more rate increase in 2017, nudging rates slightly higher, the week's gains were offset by a downturn on Friday due to weaker than expected inflation data.” in the article Fixed mortgage rates retreat after a month of gradual increases.
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Joel Kan quotes

Sep 06 2017

Heightened geopolitical tensions last week brought mortgage rates to their lowest level since the 2016 election. Refinance volume jumped as a result, and for the first time since January, the majority of application volume was for refinances, with the refinance share almost 51

Aug 31 2017 - North Korea

Rates remained low last week as tension between North Korea and the global community continued to mount, fueling a flight to quality and keeping investors in safer U.S. Treasuries. Mortgage rates generally fell, but not as low as they had in

Aug 31 2017

Purchase activity remains stronger in 2017 relative to 2016, but it has also been declining since peaking in June. This was supported by weak results in the July home sales data from Census and the NAR. The refinance index decreased 2 percent over the week to its lowest level in a month. Applications for home purchase loans decreased 2.7 percent for the week but remained 4.5 percent higher than the same week a year

Aug 30 2017

Mortgage rates generally fell, but not as low as they had in 2016. Borrowers potentially looking at a refinance might be waiting for a much bigger decrease in order to

Aug 23 2017

A strong appetite for jumbo loans and a highly competitive jumbo market has led to increased availability and lower pricing of jumbo loans over the past few

Aug 02 2017

It was an up and down time for rates last week in response to mixed economic news coupled with the Fed's FOMC statement. The statement outlined a mostly healthy outlook, with a slight concern over inflation and the news that balance sheet reduction could begin 'relatively

Jul 19 2017 - Federal Reserve

Treasury yields were slightly lower last week as testimony from [Fed Chair Janet] Yellen was perceived to be more dovish than expected, and as the market received data signaling weaker inflation and retail sales for June. These factors kept the 30-year fixed-contract rate flat over the

Jul 06 2017

The 30-year fixed mortgage rate increased to its highest level since May 2017, following a jump in the U.S. 10-year Treasury which was driven mainly by news that European economies have strengthened and the ECB may be poised to tighten its accommodative

Jun 15 2017

Rates held steady at seven-month lows last week, providing continued support for a small resurgence in refinance activity and a continued year-over-year growth in purchase applications. The refinance index increased 13 percent over the last two weeks and the average loan size increased to almost $275,000, the largest since September 2016. Purchase applications decreased over the week, but were up almost 8 percent compared to the same week one year

Jun 14 2017

From a borrower perspective, rates held steady at seven-month lows last week providing some borrowers an opportunity to refinance. Over the last two weeks refinance applications have increased 13 percent and the average loan size increased to its largest since September 2016, reflecting the tendency for jumbo borrowers to be more sensitive to rates than those with smaller loan

Jun 07 2017 - Unemployment

Purchase application volume increased to its highest level since May 2010. Refinance activity bumped up as well in response to moderating rates, but remained generally

May 10 2017

Continuing strength in the job market and improving consumer confidence drove overall purchase applications to increase last week. The index for purchase applications reached its highest level since the beginning of October 2015, which was the week prior to the implementation of the federal government's 'know before you owe'

May 03 2017 - Easter

More prospective homebuyers returned to the market after two weeks of decreases in purchase activity, which were possibly due to spring break season and

Mar 08 2017 - Federal Reserve

Mortgage rates increased last week as remarks by several key Federal Reserve officials strongly signaled a March rate increase. This was further supported by a few solid economic data releases, including GDP, inflation and manufacturing

Mar 01 2017

Rates declined last week as investors favored U.S. Treasury bonds due mainly to political concerns from

Feb 22 2017

Rates were up last week as markets assessed that the Fed might increase rates sooner than expected on the strength of a recent pick-up in inflation

Feb 22 2017

Purchase applications are not increasing as fast as is typically expected at this time of the

Feb 08 2017

Mortgage rates continued to show volatility from week to week, decreasing 4 basis points to 4.35 percent last week after two weeks of increases. Since reaching a recent peak of almost 4.5 percent toward the end of December, rates have bounced around the 4.3 percent mark for the past six

Nov 09 2016

Applications for home purchase loans increased for only the second time in the past six weeks, but purchase activity in 2016 has generally been stronger than in

Nov 09 2016

Economic news in recent weeks has been mostly positive, especially in terms of GDP growth and increasing wages. This raises the likelihood of the Fed raising rates at its December meeting, but also indicates stronger domestic economic fundamentals, which pushes rates

Oct 26 2016

Rates edged lower last week following remarks from European Central Bank President Mario Draghi that the ECB would carry on with its asset purchases for at least the next few

May 18 2016

Purchase applications jumped up during the first full week of April and had effectively remained at that level, on an unadjusted basis, before falling this week. The seasonally adjusted purchase index decreased to the lowest level since February, led by declines in applications for larger home purchase

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