Mortgage purchase applications were down again week to week for the week ending May 16: Purchase applications drop 3%
They were down 12% year over year.
Purchase apps have been negative week to week for 3 of the last 4 weeks.
Find out what's happening in Long Beachfor free with the latest updates from Patch.
SOURCE: http://investmentresearchdynamics.com/the-housing-market-is-d-o-a/?source=Patrick.net
JP: Great time to buy when no demand.
