The past 5 weeks have seen mortgage applications crumble a further 16% - their biggest such drop in 14 months as the index for home purchase applications hovers close to its lowest level since 1995. Non-seasonally-adjusted, this is the worst start to a year in over a decade. Must be the weather?
Mortgage Applications drop close to 19 year lows...
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3 comments:
I don't think you will see an improvement in our economy until Obamacare is repealed. There are too many issues with people and what their employers may have to do to survive. After all, who would lend money to anyone who only works 29 hours a week at two different jobs? Obamacare was designed to put everyone into section 8 housing just as a Socialist Country does.
The weather in most states other than FL, HI and the SW has not been very conducive to house hunting. If no contracts are being signed, then no mortgage apps are being put in assuming that all property sales are financed. There have been many cash sales in my neighborhood in the past year.
Banks know that millions of full-time workers will soon be forced into 30 hrs a week or less and have to come up with $5000 to get their kids appendix removed.
There goes the house payment. You cheered obama til you were dizzy.
Ever heard of the saying "...bite you in the ass?"
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