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Are You Surprised...At All?

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May 12, 2010 – Comments (1)

If these numbers are anywhere close to right (and I think they have to be at least in the ballpark), then did you have any doubt at all?

http://www.cnbc.com/id/37106639

Here's the gist: "One full week after the tax credit's expiration, mortgage applications fell 9.5 percent; this as mortgage interest rates dropped below 5 percent."

Good article, worth the quick read...

Jason

1 Comments – Post Your Own

#1) On May 12, 2010 at 5:08 PM, rd80 (97.54) wrote:

Shocked,..

I liked this quote:

"With more than a year of the federal government’s involvement, we are now re-entering the free market system. As we readjust to the free market, we expect to hit turbulence in some markets,” says Pete Flint, Trulia co-founder and CEO.

I guess we've redefined 'free market' so it includes FHA / Frannie support for the majority of new purchase mortgages along with unlimited gov't backstops for Frannie.

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