# šŸ“¢ Refinance Applications have plummeted! April, 2022 may be down 40% **URL:** \ **Category:** PSAs and News\ **Created:** [March 29, 2022, 10:12pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884 "2022-03-29T22:12:05Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![WitnessPro](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/witnesspro/32/17641_2.png) [@WitnessPro](https://forum.notarycafe.com/u/WitnessPro)\ **Post date:** [March 29, 2022, 10:12pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/1 "2022-03-29T22:12:06Z")
šŸ“¢ Refinance Applications have plummeted! March 2022 may be down 40% total vs 2021 slowdown looming. ~@witnesspro **WASHINGTON, D.C. (March 23, 2022)** - **Mortgage applications decreased 8.1 percent from one week earlier,** according to data from the Mortgage Bankers Associationā€™s (MBA) Weekly Mortgage Applications Survey for the week ending March 18, 2022. The Market Composite Index, a measure of mortgage loan application volume, decreased 8.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 8 percent compared with the previous week. **The Refinance Index decreased 14 percent from the previous week and was 54 percent lower than the same week one year ago.** All Real Estate is local and some markets may remain hotter then others. Here in Massachusetts, things are drying up fast. ~Adam Pasquale What are you seeing in your area? [MBA referance](https://www.mba.org/2022-press-releases/march/mortgage-applications-decrease-in-latest-mba-weekly-survey-x295238) [Mortgage Refinance Application Index](https://www.investing.com/economic-calendar/mortgage-refinance-index-1428) ![United_States_Mortgage_Refinance_Index_-_2022-03-29_17.56.38](https://canada1.discourse-cdn.com/flex034/uploads/notarycafe/original/3X/4/6/46d50e1a8c585667c3f63ba15ef62c45291f0aee.png) ---
**Author:** ![donaldsonnp](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/donaldsonnp/32/35197_2.png) [@donaldsonnp](https://forum.notarycafe.com/u/donaldsonnp)\ **Post date:** [March 29, 2022, 10:16pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/2 "2022-03-29T22:16:18Z")
We sure felt it for sureā€¦ ---
**Author:** ![vizionzmobilenotary](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/vizionzmobilenotary/32/16954_2.png) [@vizionzmobilenotary](https://forum.notarycafe.com/u/vizionzmobilenotary)\ **Post date:** [March 29, 2022, 10:22pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/3 "2022-03-29T22:22:28Z")
Thankfully I didnā€™t feel it. March has been my most profitable month since starting part time 9 months ago. Iā€™m actually heading out now to complete 2 refinances in one signing 15 minutes away ! Woot! ---
**Author:** ![WitnessPro](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/witnesspro/32/17641_2.png) [@WitnessPro](https://forum.notarycafe.com/u/WitnessPro)\ **Post date:** [March 29, 2022, 10:27pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/4 "2022-03-29T22:27:13Z")
Good for you! I am in Massachusettsā€¦ an attorney State. We are not permitted to close purchases or sales. Very difficult market as the ā€œrefinancesā€ were basically the ā€œbread & butterā€. Fortunately, there are other ways to stay profitable. ~Adam ---
**Author:** ![donaldsonnp](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/donaldsonnp/32/35197_2.png) [@donaldsonnp](https://forum.notarycafe.com/u/donaldsonnp)\ **Post date:** [March 29, 2022, 10:30pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/5 "2022-03-29T22:30:05Z")
Get that money!!!šŸ’ƒšŸ’ƒšŸ’ƒšŸ’ƒ ---
**Author:** ![vizionzmobilenotary](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/vizionzmobilenotary/32/16954_2.png) [@vizionzmobilenotary](https://forum.notarycafe.com/u/vizionzmobilenotary)\ **Post date:** [March 29, 2022, 10:30pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/6 "2022-03-29T22:30:11Z")
The signing I have today is a requires an attorney for the first past because that property is in South Carolina. Since Iā€™m in Oklahoma an we are not an attorney state this will be my first one with an attorney on the phone. ---
**Author:** ![donaldsonnp](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/donaldsonnp/32/35197_2.png) [@donaldsonnp](https://forum.notarycafe.com/u/donaldsonnp)\ **Post date:** [March 29, 2022, 10:35pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/7 "2022-03-29T22:35:07Z")
For me Feb was my best month. Although my signing appointments were less I still made the same amount of money due to my title companies and did less with SS. I pray the TC will continue to keep me busy ---
**Author:** ![donaldsonnp](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/donaldsonnp/32/35197_2.png) [@donaldsonnp](https://forum.notarycafe.com/u/donaldsonnp)\ **Post date:** [March 29, 2022, 10:36pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/8 "2022-03-29T22:36:35Z")
I donā€™t know how you do it holding down a FT jobā€¦ my hats go off to you. ---
**Author:** ![vizionzmobilenotary](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/vizionzmobilenotary/32/16954_2.png) [@vizionzmobilenotary](https://forum.notarycafe.com/u/vizionzmobilenotary)\ **Post date:** [March 29, 2022, 10:47pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/9 "2022-03-29T22:47:37Z")
Dedication and seniority at work šŸ˜Š ---
**Author:** ![vizionzmobilenotary](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/vizionzmobilenotary/32/16954_2.png) [@vizionzmobilenotary](https://forum.notarycafe.com/u/vizionzmobilenotary)\ **Post date:** [March 29, 2022, 10:51pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/10 "2022-03-29T22:51:54Z")
Letā€™s not forget Gods grace šŸ™šŸ¾ā¤ ---
**Author:** ![vvs.notary.services](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/vvs.notary.services/32/19677_2.png) [@vvs.notary.services](https://forum.notarycafe.com/u/vvs.notary.services)\ **Post date:** [March 29, 2022, 11:18pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/11 "2022-03-29T23:18:56Z")
This business is like SUV sales. Price of gas goes up, sales of SUVā€™s (big motor vehicles) goes down. But if you live in the mountains, well, you have to suck it up! Location specific! ---
**Author:** ![VIPnotaryCO](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/vipnotaryco/32/27834_2.png) [@VIPnotaryCO](https://forum.notarycafe.com/u/VIPnotaryCO)\ **Post date:** [March 29, 2022, 11:47pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/12 "2022-03-29T23:47:49Z")
Yep, God knows what we need and God will provide. ---
**Author:** ![VIPnotaryCO](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/vipnotaryco/32/27834_2.png) [@VIPnotaryCO](https://forum.notarycafe.com/u/VIPnotaryCO)\ **Post date:** [March 29, 2022, 11:49pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/13 "2022-03-29T23:49:50Z")
You can do it!, you can do it! ---
**Author:** ![kingdomnotaryservices7](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/kingdomnotaryservices7/32/18623_2.png) [@kingdomnotaryservices7](https://forum.notarycafe.com/u/kingdomnotaryservices7)\ **Post date:** [March 30, 2022, 4:09pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/14 "2022-03-30T16:09:09Z")
I am not getting any calls. Things have slowed up. ---
**Author:** ![ptorry302](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/ptorry302/32/21664_2.png) [@ptorry302](https://forum.notarycafe.com/u/ptorry302)\ **Post date:** [March 31, 2022, 8:47pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/15 "2022-03-31T20:47:21Z")
I am in Virginia, working full time but still giving almost 80% to my business. I have to say its been very slow having 8 signings a week from my directs to now having maybe 1 a week; rough. I am now doing a lot of GNW. Which has really been great. Missing work with my directs though. Doing a lot of marketing. So when Iā€™m not working my business I am working my full time (from home) as a Recruiter. I believe that its going to pick up again soon. ---
**Author:** ![vizionzmobilenotary](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/vizionzmobilenotary/32/16954_2.png) [@vizionzmobilenotary](https://forum.notarycafe.com/u/vizionzmobilenotary)\ **Post date:** [March 31, 2022, 9:38pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/16 "2022-03-31T21:38:53Z")
Iā€™m starting to think things happen in wavesā€¦ Jan and Feb was very slow for me. March I got crazy busy. I can only guess what April will bring. Iā€™m happy Iā€™m at least starting out with one tomorrow. It better not be an April Foolā€™s signing šŸ™‚ I hope you start to pick back up soon. ---
**Author:** ![WitnessPro](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/witnesspro/32/17641_2.png) [@WitnessPro](https://forum.notarycafe.com/u/WitnessPro)\ **Post date:** [April 1, 2022, 4:23pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/17 "2022-04-01T16:23:36Z")
I have been a full time notary for 7 years. I am also a real estate broker for 18 years. I saw a massive opportunity in this industry and basically went full time within 3 months back in 2015. We have not seen duress in this economy since 2008 when lending came to a screeching halt. All the ingredients have reappeared in 2022. Check this out: 2022 Mortgage Applications weekly vs prior week: Feb 9th: ā¬‡8% Feb 16th: ā¬‡6% Feb 23rd: ā¬‡13% March 2nd: ā¬‡1% March 9th: ā¬†8% March 16th: ā¬‡1% March 23rd: ā¬‡8% March 30th: ā¬‡7% **WASHINGTON, D.C. (March 30, 2022)** - **Mortgage applications decreased 6.8 percent from one week earlier,** according to data from the Mortgage Bankers Associationā€™s (MBA) Weekly Mortgage Applications Survey for the week ending March 25, 2022. The Market Composite Index, a measure of mortgage loan application volume, decreased 6.8 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6 percent compared with the previous week. **The Refinance Index decreased 15 percent from the previous week and was 60 percent lower than the same week one year ago.** ---
**Author:** ![WitnessPro](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/witnesspro/32/17641_2.png) [@WitnessPro](https://forum.notarycafe.com/u/WitnessPro)\ **Post date:** [April 1, 2022, 4:29pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/18 "2022-04-01T16:29:17Z")
I too hope it picks up soon. However, rates are eclipsing 5% soonā€¦ the were in the low 3ā€™s 2 months ago. The approval letter for a homebuyer that used to be for $300k is now worth $260k. When the cost of borrowing goes up. Lending slows down. Check this out: 2022 Mortgage Applications weekly vs prior week: Feb 9th: ā¬‡8% Feb 16th: ā¬‡6% Feb 23rd: ā¬‡13% March 2nd: ā¬‡1% March 9th: ā¬†8% March 16th: ā¬‡1% March 23rd: ā¬‡8% March 30th: ā¬‡7% Some pockets of the country remain hot, most are chilling fast. ~Adam ---
**Author:** ![cNsa5](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/cnsa5/32/33381_2.png) [@cNsa5](https://forum.notarycafe.com/u/cNsa5)\ **Post date:** [April 2, 2022, 10:53am UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/19 "2022-04-02T10:53:08Z")
šŸ’Æ percent Accurate, Adam. _ **Concur**._ šŸ¦¢ > [@WitnessPro](#): > > Some pockets of the country remain hot, most are chilling fast. ~Adam ---
**Author:** ![vvs.notary.services](https://yyz2.discourse-cdn.com/flex034/user_avatar/forum.notarycafe.com/vvs.notary.services/32/19677_2.png) [@vvs.notary.services](https://forum.notarycafe.com/u/vvs.notary.services)\ **Post date:** [April 2, 2022, 5:52pm UTC](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884/20 "2022-04-02T17:52:18Z")
Keep in mind real estate investment companies depleted inventory significantly nation wide. They took advantage of the low rates, purchased homes in the tens of thousands and converted them into rentals. The conversion of single owner homes into rentals depleted inventory in addition to those buying at the super low rates we saw. The low inventory as a result inflated property prices on what was left (trying to get the desperate homeowners to bite). So to some, yeah 4-5% may still seem low compared to the 2% during the pandemic, but if the house you are looking at is $100k more than it was 2 years ago, thereā€™s that. Then, if the home value inflates, guess what the property taxes did? And donā€™t get me started on the appraisal process in most areasā€¦As far as REFIā€™s go? Rates are only going to go up (with everything else), so owners need to ā€œdo their business, or get off the potā€ in this aspect. Good post! > **[High mortgage rates, lack of supply, and wealthy investors put home hunters in...](https://cbsaustin.com/news/nation-world/high-mortgage-rates-lack-of-supply-and-wealthy-investors-put-home-hunters-in-a-bind-house-housing-crisis-buying-a-home-millennials-fed-federal-reserve-freddie-mac-realtor)** > > WASHINGTON (TND) ā€” Mortgage rate increases, a dwindling supply of homes, and a large uptick in demand is wreaking havoc in the housing market. Small and large investors and the Federal Reserve are contributing to some of the chaos in the market while... [Next page](https://forum.notarycafe.com/t/refinance-applications-have-plummeted-april-2022-may-be-down-40/32884.md?page=2)