Quote of the day

Wednesday, April 12, 2006 | 06:36 PM

>

"Home sales are in the process of reversing all the gains of the past two years and reverting to 2003 levels."

- Robert Mellman, economist, J.P. Morgan



The WSJ's Afternoon Report reports that mortgage apps sank 5.5% last week; According to the The Mortgage Bankers Association,  applications for purchase fell 4.7%, while refis slid 6.6%.

Not coincidentally, borrowing costs ticked higher: the average rate on a 30-year fixed mortgage is 6.50%, while the one-year Treasury adjustable-rate mortgage rose to 5.97%. These are the highest rates have been since April 2001.


>

Source:
Trade Reprieve
Tim Annett
WSJ, April 12, 2006 12:34 p.m.
http://online.wsj.com/article/SB114484354102623891.html

Wednesday, April 12, 2006 | 06:36 PM | Permalink | Comments (8) | TrackBack (0)
de.li.cious add to de.li.cious | digg digg this! | technorati add to technorati | email email this post

bn-image

TrackBack

TrackBack URL for this entry:
https://www.typepad.com/services/trackback/6a00d8341c52a953ef00d834b9300869e2

Listed below are links to weblogs that reference Quote of the day:

Comments

Two years, huh?
http://finance.yahoo.com/q/bc?s=^HGX&t=2y

Seems the homebuilders at least have a ways left to go.

Posted by: wcw | Apr 12, 2006 7:14:19 PM

The comments to this entry are closed.



Recent Posts

December 2008
Sun Mon Tue Wed Thu Fri Sat
  1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31      

Archives

Complete Archives List

Blogroll

Blogroll

Category Cloud

On the Nightstand

On the Nightstand

 Subscribe in a reader

Get The Big Picture!
Enter your email address:


Read our privacy policy

Essays & Effluvia

The Apprenticed Investor

Apprenticed Investor

About Me

About Me
email me

Favorite Posts

Tools and Feeds

AddThis Social Bookmark Button

Add to Google Reader or Homepage

Subscribe to The Big Picture

Powered by FeedBurner

Add to Technorati Favorites

FeedBurner


My Wishlist

Worth Perusing

Worth Perusing

mp3s Spinning

MP3s Spinning

My Photo

Disclaimer

Disclaimer

Odds & Ends

Site by Moxie Design Studios™

FeedBurner