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Dollar?s dramatic decline comes out of your wallet


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Could be more significant that first blush. WaMu has a huge California mortgage refi. business. Any mentions as to why WaMu missed?

 

I dunno....but they said last week that mortgage-apps (or mtgs written? or mtg dollars?) had dropped by HALF in the prior quarter (or month?).

 

Can't remember exactly, but something mortgagy had dropped in half....recently... :o

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I dunno....but they said last week that mortgage-apps (or mtgs written? or mtg dollars?) had dropped by HALF in the prior quarter (or month?).

 

Can't remember exactly, but something mortgagy had dropped in half....recently... :o

Is this it? Is California falling out of bed? Has the fifth horseman mounted his stead?

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Lack of any follow through is IMO increasing the probability that the upside triangle breakout yesterday was a whipsaw/throwover and that we are shortly heading down hard .

 

Watching. . .

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