Did you notice that inventory dropped even more than sales? On CNBC this morning the spin was "this is good news as inventory is being sold off." That cant possibly be true. Some of those homes must have been taken off the market. But, of course, it is expected that we dumb consumer will swallow any line and start spending our borrowed money again.
The statistics for mortgage applications seem fine but how would one define a great mortgage. What one fails to understand is that eventually there is a cost attached to the mortgage. These figures simply drive the american consumer towards a borrowing phase without educating them on How to find a Great Mortgage.
Did you notice that inventory dropped even more than sales? On CNBC this morning the spin was "this is good news as inventory is being sold off." That cant possibly be true. Some of those homes must have been taken off the market. But, of course, it is expected that we dumb consumer will swallow any line and start spending our borrowed money again.
MBA site works for me but the press release isnt there.
Yes, but what really matters for the housing market are purchase money apps, and they keep decreasing.
The statistics for mortgage applications seem fine but how would one define a great mortgage. What one fails to understand is that eventually there is a cost attached to the mortgage. These figures simply drive the american consumer towards a borrowing phase without educating them on How to find a Great Mortgage.