Mortgage Applications Dump 16.6%
MBA reports a 16.6 percent plunge in mortgage applications. Refinance and purchase mortgage applications drop precipitously–expecting loan originations to drop below $1.9 trillion, nearly half of 2003 mortgage boom high.
(Source: Briefing.com)
Expect this to hit online mortgage lead generation players like Bankrate.com, as it did Yahoo.
Wal-Mart Economic Indicators
Wal-Mart Index signals consumer weakness. Paul Kedrosky is fabulous at zeroing in on the right signals to tell you what is really going on at streat level.
Apple and the Great Depression
Apple is going to have to knock this off for us to have a proper Great Depression II. Perspective people!
But, People are Certainly Angry…
An angry protestor at the annual MBA convention attempted a citizen’s arrest of Karl Rove for “treason.”
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I am Bill Rice the Managing Editor of MortgageLoan.com. These are my morning notes. If you have comments, feedback, or pointers to something interesting email me or follow me on Twitter.
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