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Mortgage Application Searches Fall To Record Lows

Google searches for “mortgage applications” plunged to a 5 year low in December.

Mortgage Applications Searches Chart

Mortgage Applications Searches Chart- Click to enlarge

View full report in Google Insights for Search

According to researchers at the NY Fed, “Recent academic research finds that Internet search data can forecast the content of some economic data releases.”

Since the Mortgage Bankers Association has sent me a cease and desist letter threatening to sue me if I continue to report their data, this seems like a good proxy.

This Week Will Tell If The Bear is Really Coming Out of Hibernation

Last week’s selloff did less damage than it may have felt like. The drop stopped in the area of 3 crossing uptrend lines, ranging in length from short term to long term. Here’s what would tell us whether the uptrend is still in force, or signal that something evil this way comes. I have added 8 new stocks to the swing trade chart pick list, including 2 shorts.

Based on the 3 search terms I used, shown above, the much ballyhooed housing recovery… ain’t.

I will be posting a new housing report update in the Wall Street Examiner Professional Edition soon. Get regular updates on the US housing market, and stay up to date with the machinations of the Fed, Treasury, Primary Dealers and foreign central banks in the US market, in the Fed Report in the Professional Edition, Money Liquidity, and Real Estate Package. Try it risk free for 30 days. Don’t miss another day. Get the research and analysis you need to understand these critical forces. Be prepared. Stay ahead of the herd. Click this link and begin your risk free trial NOW!

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