Remember when the government subsidies for buying new cars ended and car sales tanked? Looks like we’re seeing the same thing in the housing market. It shouldn’t be surprising that Mortgage Purchase Applications Plummet As Tax Cuts Expire because when you subsidize an activity, you get more of it. When you take [...]
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It looks like there’s a “mini-wave” of mortgage refinancing that’s been pushing the rate of applications up to a six week high. But the home buyer tax credit doesn’t expire until the end of April, and that doesn’t apply to refinancing anyway, so why the rush? The rush may be due to the anticipated end to [...] According to this article from the AP, new home sales fell 7.6% last month. The Commerce Department said December sales fell to a seasonally adjusted annual rate of 342,000 from an upwardly revised November pace of 370,000. Economists surveyed by Thomson Reuters had forecast a pace of 370,000 for December. It’s mildly surprising given that the home [...] I don’t usually post about celebrity news, but occasionally a “celebrity in debt” kind of story catches my attention. Today, I came across this story about Anna Nicole Smith’s bankruptcy that was about the strangest thing I’d read since… well, since Michael Jackson was in the news. For starters, we have the classic celebrity in debt quote: In [...] |
 
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