David Singer writes:

I was going through the Economic Calendar for tomorrow. I went to The Mortgage Bankers Association (MBA) website and began poking around the place. I found the most recent report. Then I went back to November 2004, and checked out that information…

Two quick observations I find interesting:

2004 – % of total loans that are ARM’s ~35%
2008 – % of total loans that are ARM’s ~3%

2008 – One Year ARM = ~6.6%
30 Year Fixed = ~6.5%

Mortgage Applications Report – November 2004

Mortgage Applications Report – October 2008

Mortgage Bankers Association (MBA)
Weekly Applications Survey


October 15, 2008
November 10, 2004

Category: BP Cafe, Uncategorized

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

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