Chris writes:
First?

OT: Congresswoman uses jinglemail:

http://latimesblogs.latimes.com/...t- californ.html
Chris | 05.21.08 - 6:08 pm | #

barely writes:
What a day. The US economy, the fed and equities in general are putty n the hannds of global hedge funds and speculators in the commodities markets. IToday was evidence it's wildly out of control.

Don't fight the fed? Been pretty rewarding. Sell in May go away. Good advice. This summer is going to be brutal.
barely | 05.21.08 - 6:10 pm | #

ac writes:

Typical permabear logic to put an index in the closet until it starts going down again!

ac | 05.21.08 - 6:16 pm | #

Calculated Risk writes:
ac, ROFLOL. I took some heat when I quit following the index. But I quit using it, because it wasn't working - and also figured out why it wasn't working.

Now I'm ready to start looking at it again. I don't know if it is useful again - yet - but it's worth checking out. It was a nice indicator at one time.

Best to all.
Calculated Risk | Homepage | 05.21.08 - 6:21 pm | #

barely writes:
cramer is a shameless parasite and a fargin idiot.
barely | 05.21.08 - 6:32 pm | #

Elvis writes:
I don't know if I'd trust those mortgage bankers. Mozillo. 'Nuff said.
Elvis | 05.21.08 - 6:33 pm | #

Cal writes:
I'm expecting a biggish spike for the week starting June 1st when the new Fannie/Freddie guidelines go into effect. It won't be because of improved sales but multiple applications as people look around for looser guidelines. Some of the bigger MI companies restrictions also go into effect then.

I think the drop in the declining market policy by Fannie was made because it didn't matter much with the MI restrictions and tighter guidelines coming out.
Cal | 05.21.08 - 6:39 pm | #

skeptictank writes:
How come Mr. Mortgage is saying that mortgage apps and funding are surging:
http://mrmortgage.ml-implode.com...re-surging-but/
skeptictank | 05.21.08 - 7:06 pm | #

Cal writes:
skeptictank ,

He actually explained why apps would drop if fundings increased in his article. If loans start funding the borrower doesn't have to keep applying at different lenders. The other possibility of course is that the poorly qualified borrowers are giving up and that would make the funding rate increase.
Cal | 05.21.08 - 7:33 pm | #

News writes:
Calculated Risk,

The index appears to be right. Currently closed sales, on the MLS that I have access to, are running about 10% below April, after a good jump from March to April.
News | 05.21.08 - 7:34 pm | #

Alec writes:
News,

I was wondering if May was going to be a continuation of April's slight uptick or a return to form after the motivated sellers sold to knifee catchers and killed the demand side. Reads like the latter.
Alec | 05.21.08 - 7:58 pm | #

Alec writes:
Sorry, but I forgot that with all the plans & wholesale divisions that banks have shut that GSAs are the only game in town for those without stellar credit.
Alec | 05.21.08 - 8:02 pm | #

Tom Lindmark writes:
Personally, I wouldn't trust the mortgage bankers or brokers to tell me on what horizon the sun came up, so a survey just doesn't cut it with me. It's like asking a realtor what the direction the market is heading.
Tom Lindmark | Homepage | 05.22.08 - 1:19 am | #

puntino writes:
CR -
I keep a vague eye on the average loan size that people are applying for. Particularly purchases rather than refinancing. Figure it should give a clue as to when house prices start bottoming.
puntino | 05.22.08 - 2:37 am | #

floans writes:
I think this post at mortgages website is closer to the truth than yours..
floans | Homepage | 05.22.08 - 4:50 am | #