Browsing Tag

mortgages

Mortgage Applications Plummet

David Rosenberg, Chief Economist at Gluskin Scheff, has the following graph showing the dramatic drop in mortgage applications for home purchases in the most recent report from the Mortgage Bankers Association.   It is interesting to…

60 Minutes profiles strategic defaults

I still see this phenomenon as a major risk to US growth due to the credit writedowns associated with it. However, the vast majority of house price losses are behind us. If house prices double-dip as they appear to be doing now, the losses…

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