“A large number of Americans have decided not to borrow to buy a home. Last week, applications fell 6.3%. These figures are seasonally adjusted. This is in response to rising mortgage rates, which began in May. Since then, home sales have begun to fall. Mortgage applications had been rising for 18 months. The Federal Reserve’s purchase of almost half a trillion dollars’ worth of mortgage bonds issued by Fannie Mae and Freddie Mac since last December was not the main cause of the decline in mortgage rates. The decline had begun in June 2009. The rise in rates came halfway through the QE3 increase, which began in December 2012.”
http://teapartyeconomist.com/2013/12/26/last-weeks-mortgage-applications-13-year-low/
Related posts:
Jews say no to AIPAC and say no to bombing Syria
Crisis and Opportunities: An Elliott Wave Overview of the Markets
India Wakes Up to Bitcoin
Pro-War Hillary Faces Backlash Over Female Draft
Reality Check: More Americans "Rethinking" 9/11?
Post Office Refuses To Pay Traffic Camera Tickets
Shocker: Only 1% of So Called Terrorists Nabbed by the FBI Were Real
Takedown Of Paper Gold Unleashes Global Run On Physical Gold And Silver
Dec. 20, 1983: Rumsfeld shakes hands with Saddam Hussein
The Financial Tale of Two Cities: Detroit and Chicago
Polish Finance Official: Bitcoin is Not Illegal
The FDA: A Pain From the Neck to the Big Toe
Tesla's first big vulnerability requires physical access to the car
Auto Lenders Taking More Risks: Longer-Term, Higher Balances, Lower Quality
Australian Gov Now to Seize People's Live Bank Accts – If 'Inactive'