The Mortgage Bankers Association issued a report today that showed U.S. mortgage applications fell last week for the first time in four weeks, weighed down by sagging demand for home purchase loans.
The seasonally adjusted index of mortgage application activity, which includes both refinancing and purchasing loans, for the week ended May 11 dipped 0.8 percent.
Also, the National Association of Home Builders, reported that home builder sentiment sank in May as lenders made it more difficult for borrowers to qualify for mortgages and order cancellations mounted.[tags]real estate, real estate market,real estate bubble, housing bubble, home mortgages, housing market, home builders[/tags] San Diego mls
This is NOT news. Falling San Diego home prices and higher home mortgage interest rates are the cause.
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Even with the drop in San Diego home values, our real estate is way too expensive! cosmetic dentist San Diego
It seems San Diego has gone from boom to bust overnight!
Peter
San Diego County Dentistry
In the long term real estate always bounces back and people should take advantage of these slow periods if they really want to get a good return on their investments.
Trista
San Francisco Law