Mortgage Applications Plunge Further - Near 19 Year Lows

Tyler Durden's picture

The past 5 weeks have seen mortgage applications crumble a further 16% - their biggest such drop in 14 months as the index for home purchase applications hovers close to its lowest level since 1995. Non-seasonally-adjusted, this is the worst start to a year in over a decade. Must be the weather?

 

Mortgage Applications drop close to 19 year lows...

 

Worst start to a year for at least a decade

 

Chart: Bloomberg