· The total number of mortgage applications fell hard for the second consecutive week and posted a 1.7% drop. So far during April applications are 0.9% below the March average which fell 1.0% from February.· Purchase applications fell 2.5% w/w following the 4.7% drop to open the month but the April average so far is up 1.2% from March, which rose 0.2% versus February.
· Applications to refinance slipped 0.4% after a 6.6% slide the prior week and in April are 4.1% below the March average.
Right stock indexes are soaring, assisted by various energy related firms massive earnings, but energy prices are also soaring. Housing in selected markets is still booming & over inflated, but gold and the metal's group has climbed due to the some people concerned over the future of oil fueled inflation.
The American dollar(USD) is stuck in a rut, while the Canadian dollar(CD) which at the beginning of 2000 was being exchanged at 50 cents less then the USD. Today the CD is worth only 12.5 cents less then the USD. Many people keep saying the economy is booming yet all of us are shelling out far more for energy, paying more at the supermarket, while the USD continues declining not only against the CD, but the Pound, Euro and most major currencies.
Let's see what these guys say in 6 to 8 months from now :)