Mortgage Applications Plunge, Wal-Mart Indicators, Apple and Great Depressions
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.
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 [...]
Weekend Notes
Weekend Read File:
Will economic collapse hurt contracts for baseball players?
Time to Clean Up After the Party
An Example of Economics at Work
Bernanke is Fighting the Last War
Churchill’s Dictum and Henry Paulson
PIMCO’s Gross sees market confidence restored ‘in weeks’ on bank rescue (this guy is incredible-sarcasm in voice)
Have we learned the right lessons from the Great Depression?
Mark [...]
