Filed under: Forecasts, Good news, Money and Finance Today, Housing, Recession, Financial Crisis
The main question that everyone keeps asking regarding the housing market is: when are people going to start to purchase again? Last week we saw a tiny encouragement in this area, as mortgage applications rose a bit higher, possibly in reaction to lower interest rates.
Almost everyone concurs that the troubled housing market is a key ingredient to the current economic troubles that the American economy is dealing with, but today we got a bit of good news, as mortgage applications reportedly rose by 11.9%.
Last week’s move is a nice sign, but we also have to remember that just the week before, we were looking at applications running at their lowest level since all the way back in December 2000, so we can’t grant ourselves to get too excited over today’s news. We still have a long way to go before the country is able to crawl its way out of the current housing melt down.
Continue reading Mortgage applications inch higher last week
Mortgage applications inch higher last week originally appeared on BloggingStocks on Thu, 13 Nov 2008 17:20:00 EST. Please see our terms for use of feeds.
Entries (RSS)