Mortgage Applications Resume Decline
Updated: May 16, 2018
After a being unchanged in the prior week, Mortgage Applications to Purchase Homes for the 4/27 week FELL 2.0%. This indicator is, although very volatile, is considered a leading indicator for FUTURE housing activity. The week to week change has remained in the +5% to -5% range for quite a while and its still in that range so this weeks data doesn't lend too much insight to the future. However, taken in context of other Housing data and other economic data is does continue to support our theory that housing activity is slowing. Given hot the Charlotte market has been thats not necessarily a bad thing. But those in construction may want to think twice about added addition personal or expanding depending on the nature of the reason to do so. To this point, in a prior post (Identifying When to Invest) we outline the requirement to "scrub" ROI on projects towards the end of an economic cycle so that surely is in order. To gain from our insights please contact us or sign up for email updates via https://www.charlotteconsultantservices.com/news-update.