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.
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SOURCE: http://investmentresearchdynamics.com/the-housing-market-is-d-o-a/?source=Patrick.net
JP: Great time to buy when no demand.
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