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Mortgage Applications Collapse To New 13-Year Low

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Zero Hedge
December 18, 2013

Despite yesterday’s exuberant spike in optimism from the NAHB sentiment index to 8 year highs, the delusion from reality appears to growing ever wider. This morning’s “if we build them, they will buy’em” false headline spike in housing starts (seasonally-adjusted) is yet another delusional divergence as the mortgage applications index collapses (down 60% from 2013 highs) to a new 13-year low.

New 13-year lows in mortgage applications…

Mortgage Applications Collapse To New 13 Year Low 20131218 MTG 0

but, hey, seasonally-adjusted we’ll just keep building…

Mortgage Applications Collapse To New 13 Year Low 20131218 MTG1 0

Charts: Bloomberg

 

This article was posted: Wednesday, December 18, 2013 at 11:55 am





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