24 January 2007

McMansion

Mortgage Activity Declines Again
1/24/2007 7:34 AM EST
The MBA's Weekly Mortgage Applications index declined 8.3% for the week ended Jan. 19. Applications for new purchases fell 8.4% while refinancing activity slipped 9.6%, its second consecutive week of a nearly 10% decline. The adjustable-rate mortgage (ARM) share of activity decreased to 20.3 from 21.2 percent of total applications from the previous week.

So Goldman and Citigroup bump up the whole sector yesterday and wammo just great positive numbers this morning...NOT!! Lots of crosscurrents out there in housing...let's see how they roll...more numbers thurs. and friday with new and existing home sales to come...jfg