I haven’t been posting as much but I have stated exactly what you posted. I see that demand is still out there and we have kind of hit an equilibrium that unfortunately will stall the deterioration. The market will need another kick before it rachets down again. I don’t see that kick being long term rates, so the only hope is for a massive jump in defaults. Again even this is pesky as the banks are not pricing as aggressively as I would have hoped.
As sdrealtor noted in his area he has seen an increase in pendings. I noted that as well several weeks back.
It is discouraging but I suppose it is part of the natural cycle.
