“Purchase and refinance applications dropped this week, even after an adjustment for the Memorial Day holiday. Purchase applications are now 35 percent below their level of four weeks ago, as homebuyers have not yet returned to the market following the expiration of the homebuyer tax credit at the end of April,”

Perhaps homebuilders are rushing to finish a few more houses before the tax credit expires… The U.S. Census Bureau reports: HOUSING STARTS Privately-owned housing starts in January were at a seasonally adjusted annual rate of 591,000. This is 2.8 percent (±11.5%)* above the revised December estimate of 575,000 and is 21.1 percent (±12.3%) above the [...]

From The Mortgage Bankers Association: Weekly Application Survey The Market Composite Index, a measure of mortgage loan application volume, increased 9.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 10.4 percent compared with the previous week and decreased 52.3 percent compared with the same week one [...]

Mortgage Purchase Applications have dropped to the lowest level in 12 years. From The Mortgage Bankers Association Weekly Application Survey WASHINGTON, D.C. (January 6, 2010) — The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the weeks ending December 25, 2009 and January 1, 2010. For the week ending December 25, [...]