{"id":3752,"date":"2011-03-10T05:40:08","date_gmt":"2011-03-10T12:40:08","guid":{"rendered":"http:\/\/www.jasonapollovoss.local\/?p=3752"},"modified":"2018-09-21T02:07:58","modified_gmt":"2018-09-21T06:07:58","slug":"mortgage-applications-strongly-up","status":"publish","type":"post","link":"https:\/\/jasonapollovoss.com\/web\/2011\/03\/10\/mortgage-applications-strongly-up\/","title":{"rendered":"Mortgage Applications Strongly Up"},"content":{"rendered":"<p><span style=\"font-size: 16px;\">Yesterday the Mortgage Bankers Association announced that its index of mortgage applications rose (a whopping) 16% for the week ending March 4, 2011.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px;\"><strong>Analysis:<\/strong> I have been saying for many months now that the supply and demand fundamentals of the housing market have been in a state of massive disequilibrium.\u00a0 Predominately there has been too much supply of homes at prices too high in order to attract that critical element: a buyer.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">That mortgage applications are up 16% is clearly a sign that supply and demand in the housing market are coming much more in alignment.\u00a0 This is critical in order for one of the most important asset classes to finally stabilize and ultimately, improve.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">Since the U.S. economy has learned how to grow gross domestic product (GDP) without the benefit of a juiced real estate industry, any growth in the housing market will add to the strength of the economic recovery as we exit recession.\u00a0 This is a good thing, provided that the Federal Reserve does not leave interest rates too low for too long&#8230;again.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">The MBA also reported yesterday that its Purchase Index was up 13% and that its Refinancing Index was up 17%.\u00a0 Both of these statistics simply affirm that the housing market is finally returning to proper functioning.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px;\"><strong>Importance grade:<\/strong> 9; because of the pervasive effects of the mortgage industry on U.S. GDP recovery here affects literally dozens of important industries, from financial services to construction to insurance.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 16px;\">Jason<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yesterday the Mortgage Bankers Association announced that its index of mortgage applications rose (a whopping) 16% for the week ending March 4, 2011. &nbsp; Analysis: I have been saying for many months now that the supply and demand fundamentals of the housing market have been in a state of massive disequilibrium.\u00a0 Predominately there has been [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-3752","post","type-post","status-publish","format-standard","hentry","category-the-blog"],"_links":{"self":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/3752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/comments?post=3752"}],"version-history":[{"count":0,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/3752\/revisions"}],"wp:attachment":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/media?parent=3752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/categories?post=3752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/tags?post=3752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}