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."

7 Comments:

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 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  
Anonymous Anonymous 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 Anonymous said...

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5/18/2006 04:29:00 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.
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6/30/2006 01:47:00 PM  

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