[mEDITate-OR:
see that what we are seeing is not clear, now.
Except for the REFI apps increase.
With the problems with the EURO there has been a collapse of the 10yr TBill yields, which drove RE mortgage rates down last week to this years lows.
While we do think almost everyone who COULD do a refi has already done one, that may not be the case.
However, what we did see, as expected, was a large decline in housing starts and new permits.
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Home builders won’t lift the economy this time
Industry that usually leads country out of recession still stuck in downturn
Homebuilders are sending a message: They won't be able to contribute much to the economic recovery now that government home-buying incentives have vanished.
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Mortgage applications rise nearly 18 percent
Applications to refinance home loans were up 21 percent
The number of customers applying for mortgages jumped last week, a sign that the market could be stabilizing after dropping off sharply last month.
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