National Association of Realtors Calls for Bottom

[Portlock]

How the hell have mortgage conditions gotten ‘better’? I hope he means tighter lending standards signal a return to fundamentals, which will be ‘better’ for everyone in the future.

Can I suggest that jumbo loan application approvals will probably decrease, and there will be a mad rush for sellers to lower there asking prices below $417k? Maybe it isn’t that simple…

[(former)FormerSanDiegan]

How the hell have mortgage conditions gotten ‘better’?

I think they meant in the very short -term. From the initial panic in August-September to now. Remember, at the initial stages of the panic many programs stopped and getting a loan funded at all was very difficult. Jumbos were well over 1 point higher than conventional. Over time, various loan programs seem to have come back on line and the spread between Jumbos and conforming is closer to 0.5%.

So, basically they are saying that sales have improved slightly from a pretty horrendous rate. Note that even at this slightly higher sales rate that sales are less than they were at this time in 2001, in the months after 9/11.

[(former)FormerSanDiegan]

How the hell have mortgage conditions gotten ‘better’?

I think they meant in the very short -term. From the initial panic in August-September to now. Remember, at the initial stages of the panic many programs stopped and getting a loan funded at all was very difficult. Jumbos were well over 1 point higher than conventional. Over time, various loan programs seem to have come back on line and the spread between Jumbos and conforming is closer to 0.5%.

So, basically they are saying that sales have improved slightly from a pretty horrendous rate. Note that even at this slightly higher sales rate that sales are less than they were at this time in 2001, in the months after 9/11.

[(former)FormerSanDiegan]

How the hell have mortgage conditions gotten ‘better’?

I think they meant in the very short -term. From the initial panic in August-September to now. Remember, at the initial stages of the panic many programs stopped and getting a loan funded at all was very difficult. Jumbos were well over 1 point higher than conventional. Over time, various loan programs seem to have come back on line and the spread between Jumbos and conforming is closer to 0.5%.

So, basically they are saying that sales have improved slightly from a pretty horrendous rate. Note that even at this slightly higher sales rate that sales are less than they were at this time in 2001, in the months after 9/11.

[(former)FormerSanDiegan]

How the hell have mortgage conditions gotten ‘better’?

I think they meant in the very short -term. From the initial panic in August-September to now. Remember, at the initial stages of the panic many programs stopped and getting a loan funded at all was very difficult. Jumbos were well over 1 point higher than conventional. Over time, various loan programs seem to have come back on line and the spread between Jumbos and conforming is closer to 0.5%.

So, basically they are saying that sales have improved slightly from a pretty horrendous rate. Note that even at this slightly higher sales rate that sales are less than they were at this time in 2001, in the months after 9/11.

[(former)FormerSanDiegan]

How the hell have mortgage conditions gotten ‘better’?

I think they meant in the very short -term. From the initial panic in August-September to now. Remember, at the initial stages of the panic many programs stopped and getting a loan funded at all was very difficult. Jumbos were well over 1 point higher than conventional. Over time, various loan programs seem to have come back on line and the spread between Jumbos and conforming is closer to 0.5%.

So, basically they are saying that sales have improved slightly from a pretty horrendous rate. Note that even at this slightly higher sales rate that sales are less than they were at this time in 2001, in the months after 9/11.

[cr]

I think he means conditions in which bad mortgages were made have been corrected so logically we’ve seen all the bad mortgages default, and we’re through the worst of it.

Phew!

[cr]

I think he means conditions in which bad mortgages were made have been corrected so logically we’ve seen all the bad mortgages default, and we’re through the worst of it.

Phew!

[cr]

I think he means conditions in which bad mortgages were made have been corrected so logically we’ve seen all the bad mortgages default, and we’re through the worst of it.

Phew!

[cr]

I think he means conditions in which bad mortgages were made have been corrected so logically we’ve seen all the bad mortgages default, and we’re through the worst of it.

Phew!

[cr]

I think he means conditions in which bad mortgages were made have been corrected so logically we’ve seen all the bad mortgages default, and we’re through the worst of it.

Phew!

[4plexowner]

Mish says: “yet another fantasyland call from the NAR”

http://globaleconomicanalysis.blogspot.com/2007/12/another-fantasyland-call-from-nar.html

[4plexowner]

Mish says: “yet another fantasyland call from the NAR”

http://globaleconomicanalysis.blogspot.com/2007/12/another-fantasyland-call-from-nar.html

[4plexowner]

Mish says: “yet another fantasyland call from the NAR”

http://globaleconomicanalysis.blogspot.com/2007/12/another-fantasyland-call-from-nar.html

[4plexowner]

Mish says: “yet another fantasyland call from the NAR”

http://globaleconomicanalysis.blogspot.com/2007/12/another-fantasyland-call-from-nar.html

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