Mortgage Applications Drop to 2008 Low.
You have to love how the bad news about mortgage applications is hidden. Usually you see it first thing on Wednesday. But not today. I wonder why.
MBA said its seasonally adjusted index of mortgage application activity dropped 11% to 567 in the week ended April 25. That's lowest since Dec. 28. Mortgage applications are falling even as home prices are dropping.
http://www.cnbc.com/id/24382734
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