Hot on the heels of yet another "unexpected" financial headline ["Unexpcted Drop in Housing Starts"} we have the next "unexpected" headline in the making.
For the 9th week of the last 10, mortgage applications have fallen (down 55% from their last peak).
- Now down 45% from their May highs, in the sharpest drop since Dec 2010 and close to the worst month on record.
Gee, mortgage rates UP (currently averaging 4.68% on 30yr-fixed), mortgage applications DOWN.
Is the next "unexpected" going to be home sales?
- Who coulda known?
Thursday, 18 July 2013
The Next "Unexpected?"......................from Rico
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