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."
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."
7 Comments:
BOYCOTT GAS!
Insultingly Overpriced.
Boooooooyaaaaaaaa
Bob
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.
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.
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.
Awesome read on the lenders site. Thankyou. I'm going to post it on the Seattle site.
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RickJ
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.
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