Mortgage Applications Rocket By 16.8%, Notch Strongest Weekly Increase In 1.5 Years: 'Homebuyers Took The Opportunity To Refinance'
Portfolio Pulse from Piero Cingari
Mortgage applications surged by 16.8% in the week ending Aug. 9, marking the largest one-week jump since January 2023. This increase, despite stable interest rates, led to a significant rise in refinance activity and positively impacted mortgage-linked stocks, including the iShares Residential and Multisector Real Estate ETF (REZ) and its top-performing stocks.
August 14, 2024 | 3:07 pm
News sentiment analysis
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POSITIVE IMPACT
Diversified Healthcare Trust (DHC) is one of the top-performing stocks in the REZ ETF year-to-date, with a YTD return of 310.64%.
As a top-performing stock in the REZ ETF, DHC is likely to benefit from the overall positive trend in mortgage-linked stocks.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Independence Realty Trust, Inc. (IRT) is one of the top-performing stocks in the REZ ETF year-to-date, with a YTD return of 31.51%.
As a top-performing stock in the REZ ETF, IRT is likely to benefit from the overall positive trend in mortgage-linked stocks.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
National Health Investors, Inc. (NHI) is one of the top-performing stocks in the REZ ETF year-to-date, with a YTD return of 37.44%.
As a top-performing stock in the REZ ETF, NHI is likely to benefit from the overall positive trend in mortgage-linked stocks.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
The iShares Residential and Multisector Real Estate ETF (REZ) rose 0.3% on Wednesday, reaching its highest level since September 2022. The ETF has posted gains for 12 straight weeks, marking its longest winning streak since its launch in 2007.
The surge in mortgage applications and refinance activity has directly benefited mortgage-linked stocks, including REZ ETF, which has seen consistent gains and reached its highest level since September 2022.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
UMH Properties, Inc. (UMH) is one of the top-performing stocks in the REZ ETF year-to-date, with a YTD return of 31.73%.
As a top-performing stock in the REZ ETF, UMH is likely to benefit from the overall positive trend in mortgage-linked stocks.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Welltower Inc. (WELL) is one of the top-performing stocks in the REZ ETF year-to-date, with a YTD return of 33.37%.
As a top-performing stock in the REZ ETF, WELL is likely to benefit from the overall positive trend in mortgage-linked stocks.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50