The surge in refinancing is easing as the related index, after spiking 37.0 and 12.0 percent in the two prior weeks, rose only 0.4 percent in the August 16 week. Yet rates did move lower in the week, down another 3 basis points to 3.90 percent for conventional 30-year loans and down nearly 20 basis points over the past month. Mortgage-related gains for the purchase index have been much more subdued with this index up 0.4 percent in the latest week and the year-on-year increase slowing sharply to 5.0 percent. The slowing in the purchase index will not be lifting expectations for home sales which have been struggling to move higher this year.

Maybe try to buy Denmark?

U.S. President Donald Trump said he was postponing a scheduled meeting with Denmark’s Prime Minister Mette Frederiksen because of her lack of interest in discussing a possible purchase of Greenland.

Powell’s best move is to resign:

Trump says the Fed is the ‘only problem’ with the economy, calls Powell ‘a golfer who can’t putt’