Wall Street

The Last Time the Housing Market Was This Slow, Bill Clinton Was President

Published by
The Street

By Tony Owusu Mortgage rates well over 5% have refinancing applications down 83% year over year. Another week, another round of bad news for a U.S. housing market under pressure. For the fourth week in a row, mortgage applications, a measure of loan application volume, fell. New applications fell 1.8%, seasonally adjusted, from the previous week, according to the Mortgage Bankers Association. It’s the lowest level of activity the MBA has seen since February 2000, the last year of BIll Clinton’s presidency. Meanwhile, the Refinance Index decreased 4% week to week and remained 83% lower than it …

Read More

Share this Story
Load More Related Articles
Load More In Wall Street