Mortgage applications increased 1.1% from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 20, 2011. The Market Composite Index, a measure of mortgage loan application volume, increased 1.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 0.9% compared with the previous week.
Survey’s generally have an outcome that the originator is looking for. Mortgage application’s! What mortgage company or bank is lending money?
Application’s may be up. How many have been declined?
I know a customer sitting on about 200 gas stations. Bank owned. You need cash to buy one. Commercial property vacancy rate here is around 35%
The 4.5% mortgage rate may look appealing. One slight defect or flaw on a credit report–bingo. Sure you can have a mortgage you just pay more.
Sorry, have to go with the information on the street around me. The Banker’s and Wall Street people partially caused this financial mess thru manipulation in many ways.
History shows, it took World War II to pull this country out of the Great Depression. Some 10-12 years later.
Hang-on for the ride!