6
Jul
Real Estate Market – Mortgage Applications Hit 7 Mo. Low
real estate green shoots
Are those green shoots I see for the real estate market or a withering vine? The Mortgage Bankers Association (MBA),in a recently released report showed mortgage applications fell to a seven-month low for the week ending June 26, 2009.
The seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, fell 18.9% to 444.8, the lowest level since November 21, 2008.
The index of refinancing applications decreased 30.0% to 1,482.2, also the lowest since November 21, but was up 16.8% year-over-year.