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Housing Industry Gets Wake Up Call

Started by alanhart
over 15 years ago
Posts: 12397
Member since: Feb 2007
Discussion about
Housing Industry Gets Wake Up Call After Purchase Apps Fall To 13 Year Low http://www.mortgagenewsdaily.com/05192010_housing_industry_s_worst_fears.asp "Purchase applications plummeted 27 percent last week and have declined almost 20 percent over the past month, despite relatively low interest rates. The data continue to suggest that the tax credit pulled sales into April at the expense of the remainder of the spring buying season. In fact, this drop occurred even as rates on 30-year fixed-rate mortgages continued to fall, and at 4.83 percent are at their lowest level since November 2009...." etc. etc. etc.
Response by aboutready
over 15 years ago
Posts: 16354
Member since: Oct 2007

oh alan, you alarmist. 80% of the purchase applications were for manhattan properties (with even a sprinkling for LIC), so no worries.

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Response by somewhereelse
over 15 years ago
Posts: 7435
Member since: Oct 2009

ouch

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