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August 13, 2008 at 8:40 AM #256690August 13, 2008 at 8:43 AM #256404
hipmatt
ParticipantPlus the summer/suckers rally is now fizzled out…
U.S. mortgage applications declined last week-MBA
http://www.reuters.com/article/bondsNews/idUSN1251997020080813
NEW YORK, Aug 13 (Reuters) – Applications for U.S. home mortgages edged lower last week as home loan rates jumped, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity declined 1.5 percent in the week ended Aug. 8 to 425.9, nearing levels seen in late July which were the slowest in more than seven years.
The MBA’s seasonally adjusted index of refinancing applications slumped 4.2 percent to 1,074.6 last week, erasing most of the gain seen in the previous one-week period.
The rise followed a jump in the average 30-year fixed mortgage rate to 6.57 percent from 6.41 percent in the previous week.
The gauge of loan requests for home purchases was steady at 315.2, just above July lows.
Sluggish applications are a sign the U.S. housing market remains in the throes of a downturn that started more than two years ago. House prices by some measures have declined nearly 20 percent since mid-2006, exacerbating a rise in foreclosures and turning potential buyers away from the market.
Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz), the housing funding giants, are also making it harder to get a mortgage by raising fees on loans they purchase, including increases announced in the past week. By doing so, the companies are ceding market share to government loan programs backed by the Federal Housing Administration, analysts said.
The MBA’s government mortgage index rose 0.8 percent last week to 360.3, a level lower than four weeks ago, but more than twice that of a year earlier. (Reporting by Al Yoon; editing by Gary Crosse)
August 13, 2008 at 8:43 AM #256584ParticipantPlus the summer/suckers rally is now fizzled out…
U.S. mortgage applications declined last week-MBA
http://www.reuters.com/article/bondsNews/idUSN1251997020080813
NEW YORK, Aug 13 (Reuters) – Applications for U.S. home mortgages edged lower last week as home loan rates jumped, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity declined 1.5 percent in the week ended Aug. 8 to 425.9, nearing levels seen in late July which were the slowest in more than seven years.
The MBA’s seasonally adjusted index of refinancing applications slumped 4.2 percent to 1,074.6 last week, erasing most of the gain seen in the previous one-week period.
The rise followed a jump in the average 30-year fixed mortgage rate to 6.57 percent from 6.41 percent in the previous week.
The gauge of loan requests for home purchases was steady at 315.2, just above July lows.
Sluggish applications are a sign the U.S. housing market remains in the throes of a downturn that started more than two years ago. House prices by some measures have declined nearly 20 percent since mid-2006, exacerbating a rise in foreclosures and turning potential buyers away from the market.
Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz), the housing funding giants, are also making it harder to get a mortgage by raising fees on loans they purchase, including increases announced in the past week. By doing so, the companies are ceding market share to government loan programs backed by the Federal Housing Administration, analysts said.
The MBA’s government mortgage index rose 0.8 percent last week to 360.3, a level lower than four weeks ago, but more than twice that of a year earlier. (Reporting by Al Yoon; editing by Gary Crosse)
August 13, 2008 at 8:43 AM #256592ParticipantPlus the summer/suckers rally is now fizzled out…
U.S. mortgage applications declined last week-MBA
http://www.reuters.com/article/bondsNews/idUSN1251997020080813
NEW YORK, Aug 13 (Reuters) – Applications for U.S. home mortgages edged lower last week as home loan rates jumped, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity declined 1.5 percent in the week ended Aug. 8 to 425.9, nearing levels seen in late July which were the slowest in more than seven years.
The MBA’s seasonally adjusted index of refinancing applications slumped 4.2 percent to 1,074.6 last week, erasing most of the gain seen in the previous one-week period.
The rise followed a jump in the average 30-year fixed mortgage rate to 6.57 percent from 6.41 percent in the previous week.
The gauge of loan requests for home purchases was steady at 315.2, just above July lows.
Sluggish applications are a sign the U.S. housing market remains in the throes of a downturn that started more than two years ago. House prices by some measures have declined nearly 20 percent since mid-2006, exacerbating a rise in foreclosures and turning potential buyers away from the market.
Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz), the housing funding giants, are also making it harder to get a mortgage by raising fees on loans they purchase, including increases announced in the past week. By doing so, the companies are ceding market share to government loan programs backed by the Federal Housing Administration, analysts said.
The MBA’s government mortgage index rose 0.8 percent last week to 360.3, a level lower than four weeks ago, but more than twice that of a year earlier. (Reporting by Al Yoon; editing by Gary Crosse)
August 13, 2008 at 8:43 AM #256648ParticipantPlus the summer/suckers rally is now fizzled out…
U.S. mortgage applications declined last week-MBA
http://www.reuters.com/article/bondsNews/idUSN1251997020080813
NEW YORK, Aug 13 (Reuters) – Applications for U.S. home mortgages edged lower last week as home loan rates jumped, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity declined 1.5 percent in the week ended Aug. 8 to 425.9, nearing levels seen in late July which were the slowest in more than seven years.
The MBA’s seasonally adjusted index of refinancing applications slumped 4.2 percent to 1,074.6 last week, erasing most of the gain seen in the previous one-week period.
The rise followed a jump in the average 30-year fixed mortgage rate to 6.57 percent from 6.41 percent in the previous week.
The gauge of loan requests for home purchases was steady at 315.2, just above July lows.
Sluggish applications are a sign the U.S. housing market remains in the throes of a downturn that started more than two years ago. House prices by some measures have declined nearly 20 percent since mid-2006, exacerbating a rise in foreclosures and turning potential buyers away from the market.
Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz), the housing funding giants, are also making it harder to get a mortgage by raising fees on loans they purchase, including increases announced in the past week. By doing so, the companies are ceding market share to government loan programs backed by the Federal Housing Administration, analysts said.
The MBA’s government mortgage index rose 0.8 percent last week to 360.3, a level lower than four weeks ago, but more than twice that of a year earlier. (Reporting by Al Yoon; editing by Gary Crosse)
August 13, 2008 at 8:43 AM #256696ParticipantPlus the summer/suckers rally is now fizzled out…
U.S. mortgage applications declined last week-MBA
http://www.reuters.com/article/bondsNews/idUSN1251997020080813
NEW YORK, Aug 13 (Reuters) – Applications for U.S. home mortgages edged lower last week as home loan rates jumped, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity declined 1.5 percent in the week ended Aug. 8 to 425.9, nearing levels seen in late July which were the slowest in more than seven years.
The MBA’s seasonally adjusted index of refinancing applications slumped 4.2 percent to 1,074.6 last week, erasing most of the gain seen in the previous one-week period.
The rise followed a jump in the average 30-year fixed mortgage rate to 6.57 percent from 6.41 percent in the previous week.
The gauge of loan requests for home purchases was steady at 315.2, just above July lows.
Sluggish applications are a sign the U.S. housing market remains in the throes of a downturn that started more than two years ago. House prices by some measures have declined nearly 20 percent since mid-2006, exacerbating a rise in foreclosures and turning potential buyers away from the market.
Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz), the housing funding giants, are also making it harder to get a mortgage by raising fees on loans they purchase, including increases announced in the past week. By doing so, the companies are ceding market share to government loan programs backed by the Federal Housing Administration, analysts said.
The MBA’s government mortgage index rose 0.8 percent last week to 360.3, a level lower than four weeks ago, but more than twice that of a year earlier. (Reporting by Al Yoon; editing by Gary Crosse)
August 13, 2008 at 9:57 AM #256445(former)FormerSanDiegan
ParticipantI guess I missed this rally thingy ?
I thought prices have declined rather precipitously over the past 4-5 months.August 13, 2008 at 9:57 AM #256624ParticipantI guess I missed this rally thingy ?
I thought prices have declined rather precipitously over the past 4-5 months.August 13, 2008 at 9:57 AM #256632ParticipantI guess I missed this rally thingy ?
I thought prices have declined rather precipitously over the past 4-5 months.August 13, 2008 at 9:57 AM #256688ParticipantI guess I missed this rally thingy ?
I thought prices have declined rather precipitously over the past 4-5 months.August 13, 2008 at 9:57 AM #256736ParticipantI guess I missed this rally thingy ?
I thought prices have declined rather precipitously over the past 4-5 months.August 13, 2008 at 8:57 PM #256685BKlawyer
ParticipantYou guys crack me up even more! Yeah,I get it, “Even a broken clock is right 2x/day”. Right. . . . 3-4 years ago I gave seminars w/Papa Kappa about foreclosures and what was coming and how it was gonna go down. 3 rows, each filled with 15 RE agents/brokers, look to you left, look to your right, at least one of the rows won’t be here in 5 years. There are BIG time players in this town who are being EATEN alive by what’s going on. You’ll see their names soon enough. After their BKs. Those of us on the street are seeing it first hand. The rest of you are whistling past the graveyard. . .
August 13, 2008 at 8:57 PM #256866ParticipantYou guys crack me up even more! Yeah,I get it, “Even a broken clock is right 2x/day”. Right. . . . 3-4 years ago I gave seminars w/Papa Kappa about foreclosures and what was coming and how it was gonna go down. 3 rows, each filled with 15 RE agents/brokers, look to you left, look to your right, at least one of the rows won’t be here in 5 years. There are BIG time players in this town who are being EATEN alive by what’s going on. You’ll see their names soon enough. After their BKs. Those of us on the street are seeing it first hand. The rest of you are whistling past the graveyard. . .
August 13, 2008 at 8:57 PM #256870ParticipantYou guys crack me up even more! Yeah,I get it, “Even a broken clock is right 2x/day”. Right. . . . 3-4 years ago I gave seminars w/Papa Kappa about foreclosures and what was coming and how it was gonna go down. 3 rows, each filled with 15 RE agents/brokers, look to you left, look to your right, at least one of the rows won’t be here in 5 years. There are BIG time players in this town who are being EATEN alive by what’s going on. You’ll see their names soon enough. After their BKs. Those of us on the street are seeing it first hand. The rest of you are whistling past the graveyard. . .
August 13, 2008 at 8:57 PM #256928ParticipantYou guys crack me up even more! Yeah,I get it, “Even a broken clock is right 2x/day”. Right. . . . 3-4 years ago I gave seminars w/Papa Kappa about foreclosures and what was coming and how it was gonna go down. 3 rows, each filled with 15 RE agents/brokers, look to you left, look to your right, at least one of the rows won’t be here in 5 years. There are BIG time players in this town who are being EATEN alive by what’s going on. You’ll see their names soon enough. After their BKs. Those of us on the street are seeing it first hand. The rest of you are whistling past the graveyard. . .
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