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MBA Mortgage Applications: -3.0% vs. -3.3% last week.

MBA Mortgage Applications: -3.0% vs. -3.3% last week.
Comments (7)
  • mickmars
    , contributor
    Comments (1323) | Send Message
     
    Uncle Ben, we need that 3.5% rate back ASAP. Trot out Hilsenrath to tell us the "tapering talk" was just talk....
    26 Jun 2013, 08:22 AM Reply Like
  • june1234
    , contributor
    Comments (2689) | Send Message
     
    A 39% decline in mortgage apps in 2 months. Must be that recovery that keep talking about. Meanwhile first quarter GDP was revised downward from 2.4 to 1.8%.
    26 Jun 2013, 08:41 AM Reply Like
  • Tack
    , contributor
    Comments (13576) | Send Message
     
    In the same two-month period existing home sales went from 4.94MM to 5.18MM, a 4.86% increase. And, this past month's home price increase was the highest on record.

     

    Wonder how that happened?
    26 Jun 2013, 09:04 AM Reply Like
  • GaltMachine
    , contributor
    Comments (1146) | Send Message
     
    Tack,

     

    I think actual sales are a lagging indicator relative to this index - this index is designed to predict what sales will look like in the future. This index was getting pretty strong late last year and early this year and sales followed.

     

    So the question this raises is what will happen to sales on a go-forward basis. I think basically where we are right now continues but doesn't accelerate.
    26 Jun 2013, 09:22 AM Reply Like
  • june1234
    , contributor
    Comments (2689) | Send Message
     
    When you have a supply "problem" in a supply and demand system prices go up.

     

    Wonder how that happened?
    26 Jun 2013, 11:10 AM Reply Like
  • Tack
    , contributor
    Comments (13576) | Send Message
     
    june:

     

    Yes, you are correct, which just points out that sales-volume increases would have been even greater with more supply.
    26 Jun 2013, 11:38 AM Reply Like
  • june1234
    , contributor
    Comments (2689) | Send Message
     
    Correct prices would not have been increasing though.
    Where is all that supply? Census bureau shows 18.5 million vacant homes in this country(of which 4.5 million are vacation homes). Yes there is a correlation between 350K who lose their jobs each week and foreclosure levels a.k.a shadow inventory. Problems are structural.
    27 Jun 2013, 08:24 AM Reply Like
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