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Mortgage Applications Collapse To New 13-Year Low

Posted By admin On December 18, 2013 @ 11:55 am In Money Watch | Comments Disabled

Zero Hedge [1]
December 18, 2013

Despite yesterday’s exuberant spike in optimism from the NAHB sentiment index [2] 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) [3] 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 [4]

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

Mortgage Applications Collapse To New 13 Year Low 20131218 MTG1 0 [5]

Charts: Bloomberg

 


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URLs in this post:

[1] Zero Hedge: http://www.zerohedge.com/news/2013-12-18/mortgage-applications-collapse-new-13-year-low

[2] yesterday’s exuberant spike in optimism from the NAHB sentiment index: http://www.zerohedge.com/news/2013-12-17/homebuilder-confidence-spikes-back-highest-8-years

[3] “if we build them, they will buy’em” false headline spike in housing starts (seasonally-adjusted): http://www.zerohedge.com/news/2013-12-18/housing-starts-permits-surge-seasonal-adjustments-rental-units

[4] Image: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/12/20131218_MTG.jpg

[5] Image: http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2013/12/20131218_MTG1.jpg

[6] U.S. Housing Prices Tumble on Home Mortgage Scarcity: http://www.prisonplanet.com/us-housing-prices-tumble-on-home-mortgage-scarcity.html

[7] Burry, Predictor of Mortgage Collapse, Bets on Farmland, Gold: http://www.prisonplanet.com/burry-predictor-of-mortgage-collapse-bets-on-farmland-gold.html

[8] Geithner Sees “Economic Improvement” As Mortgage Delinquencies Hit All Time High: http://www.prisonplanet.com/geithner-sees-economic-improvement-as-mortgage-delinquencies-hit-all-time-high.html

[9] Housing Starts in U.S. Decreased in December to One-Year Low: http://www.prisonplanet.com/housing-starts-in-u-s-decreased-in-december-to-one-year-low.html

[10] East Point residents line up again to turn in Section 8 applications: http://www.prisonplanet.com/east-point-residents-line-up-again-to-turn-in-section-8-applications.html

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