11/12/09 Baltimore, Maryland – Can the American recovery persist without government support? Today the market gave us a hint:
Heh, it didn’t even take actual removal of government intervention to sack mortgage applications, the MBA confirms today. As we noted earlier this week, the tax credit was extended and expanded into the spring of 2010. Just the anxiety of its Nov. 30 expiration alone (or perhaps savvy homebuyers waiting to see if they were going to get a better government deal) plunged the mortgage applications index to 220 last week, its lowest score since 2000.
And what a coincidence, too… the previous low was in early February of this year, right before our government enacted the homebuyer credit.
Ian Mathias
Ian Mathias is the managing editor of Agora Financial’s Income Franchise, where he writes and researches about retirement, dividend and fixed income investing. Much of his work is featured in The Daily Reckoning and Lifetime Income Report – Agora Financial’s flagship income investing advisory.
Previously, Ian managed The 5 Min. Forecast, a fun, fast-paced daily look into the future of global markets and macroeconomics. He’s also worked in public relations, where media outlets like Forbes, AP, Yahoo! and MSN Money have syndicated his writing. If he’s not at work, you’ll probably find Ian on a bicycle, racing up and down the “mountains” of Baltimore County. Ian has a BA from Loyola University in Maryland.
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Seriously guys, where is Mogambo?
Yeah Earl, I’m with you–are the honchos listening? We miss the humor and satire of the MG… Just buy him the beer and tacos that he wants and get him back on board!!
Totally, I was just looking for him, is he OK?