Hits a 30 year low
The Mortgage Bankers Association index of home-purchase applications decreased by 2.1 percent last week, hitting its lowest level since April 1995, Bloomberg reported Wednesday. Bloomberg also noted that contract rates on 30-year fixed mortgages dropped by 10 basis points in the week that ended on Sept. 1, and that the overall measure of mortgage demand dropped by 2.9 percent, hitting an almost 27-year low.
It is ironic I know a few couples as friends who have bought in the last six weeks.
I kept my mouth shut. The dye had already been cast.
We have a friend in Boston who bought a new place without having any contingency on selling their old place. They closed 2 weeks ago on the new place - still haven’t sold the old place. They’ve reduced the price a couple of times, now $40K less than original asking price. Paying two mortgages, insurance, taxes, etc. Not pretty right now.
'38Packard
→ Glad I’m not him.
Who would have saw that coming?