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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…

[4]

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

[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

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