Jake
@John_Hempton @ActuallyFinance @CliffordAsness @IrvingSwisher @NateGeraci @BullandBaird @cullenroche @Convertbond @realDonaldTrump @choffstein @Me @dopamine_uptake @BoringBiz_ @bennpeifert @Foulke_David HT @LoganMohtashami This is a sneaky all time chart crime as it doesn’t show the number of refi applications have declined ~90% the past 5 years TLDR: if you’re trying to refi from 2% to 7%… you have some credit issues https://x.com/KobeissiLetter/status/1902154301210030459
The Kobeissi Letter
This is concerning: 41.8% of US homeowners who sought to refinance their mortgages have received an application rejection, the highest share in over 12 years. The percentage has QUADRUPLED since October 2023, according to the NY Fed. Many Americans are seeking to refinance to
