Mortgage Purchase Applications Hitting New Lows

posted on November 23rd, 2009 filed under: Real Estate News

The $8,000 homebuyer tax credit was recently extended (and expanded), but only after urgent advertising convinced some people to Buy Buy Buy before the originally scheduled expiration.  As a result, purchases have dried up in the last few weeks, as evidenced by the Mortgage Bankers Association’s Purchase Index, which measures the number of mortgage applications being submitted.  The index has declined for six straight weeks and is at a 12-year low.

Calculated Risk has a nice chart.

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posted by // This entry was posted on Monday, November 23rd, 2009 at 8:47 am and is filed under Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed.

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