Wednesday, May 10, 2006

Mortgage Applications Resume Slide

From CNN/Money:
Applications for home loans slip

"The number of people applying for mortgages fell last week, led by a sharp drop in refinancing applications, an industry group said Wednesday."

"The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity for the week ended May 5 fell 5.8 percent to 562.1 from the previous week's 596.8."

"The MBA's seasonally adjusted purchase mortgage index fell 3.9 percent to 416.5 from the previous week's 433.3. The index is considered a reliable gauge of U.S. home sales."

"The trade group's seasonally adjusted index of refinancing applications fell 8.8 percent to 1427.4 from 1565.6 in the previous week."

39 Comments:

Blogger minutesfromNYC said...

Gee...I guess we are not all young professionals making 6 figures working in NYC afterall.

5/10/2006 07:43:00 AM  
Anonymous Anonymous said...

BOYCOTT GAS!

Insultingly Overpriced.

Boooooooyaaaaaaaa

Bob

5/10/2006 10:18:00 AM  
Blogger Metroplexual said...

I am hearing more commercials from mortgage companies on the radio. My favorite is the one where the announcer says you can borrow @ 1.5% so that $500,000 is $1,400 a month. They also talk about "complete cashout". I think they are getting desperate folks.

5/10/2006 10:26:00 AM  
Blogger minutesfromNYC said...

...While the people who bought in 2001 are saying "It's a good thing I had the financial foresight to make such a wise investment. My house has nearly doubled in value!! I am a financial prodigy"

lol

5/10/2006 10:33:00 AM  
Blogger lindsey said...

It's getting ugly in those "it couldn't happen here places" like Monmouth County.

There are a lot of people here who make a lot of money, but it's pretty clear we have more big houses than salaries now.

Mix in the hollow economic recovery that is going to get kicked in the pants by declining construction and related business activity and this looks like it's going to get pretty nasty.

5/10/2006 10:50:00 AM  
Blogger chicagofinance said...

My wife and I were discussing whether we would want to pick up one of those townhouses next to Whole Foods on the cheap should there be some firesale in the next 5 years.

5/10/2006 11:51:00 AM  
Anonymous Anonymous said...

Interesting discussion the other day on a mortgage broker forum where I lurk:

People who can't afford homes
http://tinyurl.com/ho4kp

Bubble denial is still in full swing over there, although there are a few who see things coming.

5/10/2006 12:15:00 PM  
Blogger jhawk92 said...

anon1:15

Interesting reading over there on that mortgage brokers site...

It seems they think that, in CA at least, there might be a flood of foreclosures coming and are starting to get more calls from borrowers in dire straits with few options.

Wonder how many of the listings we are seeing now are people who are in bad shape with their finances and have to get out? My guess it's fairly small since ARMs didn't start really picking up steam until mid-2003 and are just now resetting. So, if that's true, what happens if there is a flood of foreclosures hitting the market late this year, early next year?

The pendelum is flying to the buyers side and may get stuck there for a while...

5/10/2006 12:35:00 PM  
Anonymous seattle price drop said...

Awesome read on the lenders site. Thankyou. I'm going to post it on the Seattle site.

5/10/2006 09:32:00 PM  
Anonymous Rick J said...

I have been following a site now for almost 2 years and I have found it to be both reliable and profitable. They post daily and their stock trades have been beating
the indexes easily.

Take a look at Wallstreetwinnersonline.com

RickJ

5/18/2006 04:29:00 PM  
Anonymous Anonymous said...

. Silence Is Golden: Be courteous but don't force conversation with a potential buyer. He wants to inspect your house, not pay a social visit.
Go here for more ideas.

6/20/2006 03:45:00 PM  
Anonymous Anonymous said...

Surfing for information on real estate, and I stumbled across your blog. Interesting work. Good read. Visit my site if you have a chance.

6/21/2006 07:09:00 AM  
Anonymous Anonymous said...

Here's the home buying process into a single weekend. She does it by compressing the real estate marketing budget into a much tighter timeframe than normal .

6/21/2006 10:00:00 AM  
Anonymous Anonymous said...

Someone knows how to bring a lot of into your home, over a single weekend. Opportunity attracts them. Emotion captures them. Competition excites them. Their wallets open. Top dollar for your home pops out in an open bidding process that concludes on a single Sunday afternoon .

6/21/2006 08:53:00 PM  
Anonymous Anonymous said...

Hint #3 for . Let The Sun Shine In: Open draperies and curtains and let the prospect see how cheerful your home can be. Dark rooms do not appeal. One trick which always seems to work is to replace 60-watt bulbs with 100-watt bulbs, and have your Realtor� turn them all on, even for a daytime showing (and off again after the showing).

6/21/2006 08:59:00 PM  
Anonymous Anonymous said...

Hint #11 for . You Can Sell Pride Of Ownership. Cleanliness counts. Potpourrie works. So does a nice-smelling stew simmering on the stove. Happy buyers often tell us: "I liked the smell of the home." And you'd be surprised how many people walked away from a "perfect" home because "the owners were smokers."

6/21/2006 09:55:00 PM  
Anonymous Anonymous said...

Enjoyed visiting your blog. Good read. Any of your readers want to put in front of thousands of potential buyers immediately. Uniquely. Literally in a way no other real estate experts can ... .

6/22/2006 07:32:00 AM  
Anonymous Anonymous said...

With the , you don't have strangers coming through your home, day after day, often week after week, at times which are not always convenient. Your home must look great ... truly great ... for one weekend only .

6/23/2006 04:38:00 PM  
Anonymous Anonymous said...

watch "absorption rates" closely. It's a time-tested yardstick for home sales. Does it prove that the Housing Bubble has already popped? You bet it has.

6/23/2006 07:33:00 PM  
Blogger Credit Score Improvement said...

A real enlightening blog. Don't stop now. This may be of interest to you information about Los Angeles mortgages Need Information on purchasing a home? http:\\www.customortgage.net

6/24/2006 02:13:00 AM  
Anonymous Anonymous said...

Hint #11 for . You Can Sell Pride Of Ownership. Cleanliness counts. Potpourrie works. So does a nice-smelling stew simmering on the stove. Happy buyers often tell us: "I liked the smell of the home." And you'd be surprised how many people walked away from a "perfect" home because "the owners were smokers."

6/24/2006 01:41:00 PM  
Anonymous Anonymous said...

Enjoyed visiting your blog. Good read. Any of your readers want to put in front of thousands of potential buyers immediately. Uniquely. Literally in a way no other real estate experts can ... .

6/24/2006 05:22:00 PM  
Anonymous Anonymous said...

Pop goes the Housing Bubble? A Florida subdivision -- -- characterizes the area, the problem, and the answer.

6/25/2006 06:07:00 PM  
Anonymous Anonymous said...

The No. 1 sellers' complaint on the is the "showing" process ... the line of people trudging through their home, inspecting their lives, in search of who knows what .

6/25/2006 11:47:00 PM  
Anonymous Anonymous said...

Hint #5 for . Loose knobs, sticking and squeaking doors and windows, warped cabinet drawers, and other minor flaws detract from home value. Fix them. Most buyers assume there will be ten hidden problems for every one they see.

6/26/2006 10:21:00 AM  
Anonymous Anonymous said...

With the , you don't have strangers coming through your home, day after day, often week after week, at times which are not always convenient. Your home must look great ... truly great ... for one weekend only .

6/26/2006 11:55:00 AM  
Blogger Credit Score Improvement said...

A real enlightening blog. Don't stop now. Here's a subject that may interest you; Bad credit mortgage loan Get Free reports at http:\\thehomemortgageguide.com

6/26/2006 12:30:00 PM  
Anonymous Anonymous said...

Blog-hopping is a habit I am trying to break since my own real estate work requires a lot of attention to detail. Then I run into a blog like yours and I�m reminded about how the internet expands our views positively. Thanks for the read. Visit my site if you have a chance.

6/26/2006 12:41:00 PM  
Anonymous Anonymous said...

So many blogs, so little time. Got to get back to work on my own real estate sites. Enjoyed the visit. Stop by my site if you have a chance.

6/26/2006 08:01:00 PM  
Anonymous Anonymous said...

With the , you don't have strangers coming through your home, day after day, often week after week, at times which are not always convenient. Your home must look great ... truly great ... for one weekend only .

6/27/2006 09:47:00 AM  
Anonymous Anonymous said...

With the , you don't have strangers coming through your home, day after day, often week after week, at times which are not always convenient. Your home must look great ... truly great ... for one weekend only .

6/27/2006 09:29:00 PM  
Blogger Debt Consolidation Refinance said...

Your blog rocks. You've done a great job. If you want to offer something helpful to your readers, http://thehomemortgageguide.com can help anyone who owns a home and is looking for a home mortgage refinance regardless of their credit standing. Debt consolidation refinance offers credit repair to help get you on the right path. You can even get a bad credit debt consolidation mortgage refinance. The best part is you don't have to feel obligated because it's a no cost no obligation process unless you want to close your loan!

6/28/2006 09:28:00 PM  
Anonymous Anonymous said...

In the year prior to Hurricane Wilma, which ripped through south Florida in October, 2005, 64 homes had new owners at the . A snapshot of the present may show the Housing Bubble has already popped.

6/30/2006 12:59:00 PM  
Blogger Joel said...

A smart strategy and preparation will save money on your monthly payments, and find the deal you really deserve. Shopping for deals and comparing offers online is a very fast and secure shortcut to a good deal,and todays market is hyper-competitive so get quotes from different lenders then compare them and negotiate the terms.
Read more..

6/30/2006 01:47:00 PM  
Anonymous Anonymous said...

Blog-hopping is a habit I am trying to break since my own real estate work requires a lot of attention to detail. Then I run into a blog like yours and I�m reminded about how the internet expands our views positively. Thanks for the read. Visit my site if you have a chance.

7/02/2006 03:10:00 PM  
Anonymous Anonymous said...

Someone knows how to bring a lot of into your home, over a single weekend. Opportunity attracts them. Emotion captures them. Competition excites them. Their wallets open. Top dollar for your home pops out in an open bidding process that concludes on a single Sunday afternoon .

7/04/2006 08:34:00 AM  
Anonymous Anonymous said...

You can do a lot to For example, curb appeal sells: do some landscaping. Plant some flowers. Remember that the front door greets buyers. Make sure it offers potential a bright, warm welcome.

7/04/2006 08:32:00 PM  
Anonymous Anonymous said...

When I go blogging, it often ends up a fruitless journey. I often think I'd do better if I just stuck with my own real estate sites ... and then I come across a blog like yours, and it make the trip worthwhile. Thanks. Visit my site if you have a chance.

7/05/2006 12:02:00 PM  
Anonymous Anonymous said...

. Never Stay In Your House With House Hunters: Let the agent handle it, and remove yourself if possible. Remember that the Realtor� has worked many hours with these people, and knows what they're looking for, and how to work with them. Let the Realtor� do the job without interference.You may feel that an agent isn't showing the important features of your home to the prospect, but the agent knows people aren't sold by details until they've become emotionally involved with the "big picture" of your home. The presence of any member of the seller's family can't help. It always unnerves possible buyers. It often prevents a sale.
Go here for more ideas.

7/05/2006 11:40:00 PM  

Post a Comment

<< Home