Mortgage applications plummet 24%


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  • The impact from the Covid-19 virus is already starting

    https://www.cnbc.com/2020/04/01/coronavirus-mortgage-applications-to-buy-a-home-plummet-24percent-annually.html

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    Jackie,
    I put in 12 offers Monday. I will be doing another 15 tomorrow. These are Bill Cook type Teeter-Totter offers which I normally would put in a door but the bug has created enough panic that I don’t want to doorknock right now. I am making a lot of offers on contingent sales as I believe many of these will fall through. A friend of mine just withdrew his offer and ate the $3k earnest money check since he felt the market will drop significantly. Such an odd time!
    Greg

    Oh–one more thing, when the 6million unemployed number comes out tomorrow I suspect there will be further blood in the water. Time to feed!

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