Why does the media insist on blaming interest rates when mortgage origination drops?
Once again we see a dip in the number of mortgage originations but most media outlets want to blame that on higher interest rates. Today, we will review why that is total nonsense. We will also talk about another time honored number that is no longer valid today – and it has HUGE effects on the buying and selling cycle in the market. Also, we find that once again home prices are higher – but there is no real surprise there.
Finally, I got it wrong. I made a prediction for October 2017. Now that October is behind us, it is clear that I was 100% wrong. We will chat a bit about that as well.
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