Faulty Mortgage Data
A friend of mine was telling me about the challenges of getting a mortgage with good credit and equity during the credit crunch of the summer. I don't remember exactly how many different financial institutions he ended up applying to, but after the first deal fell through, it was many.
So, mortgage applications are up to the highest level since July 2005 but the credit conditions have made the number meaningless for comparison purposes.
It would be interesting to see a graph of number of mortgage appliations over time and the number of mortgages granted.