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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (260635)	7/14/2010 8:41:58 AM
From: DebtBomb	Read Replies (1) \| Respond to of 306849

Retail sales drop 0.5 percent in June Retail sales fall in June for second month, raising worries about durability of recovery AP Economics Writer, On Wednesday July 14, 2010, 8:35 am WASHINGTON (AP) -- Retail sales fell in June for the second straight month, raising new concerns about how much of a slowdown the economy will have to endure in the second half of this year. The Commerce Department says retail spending dropped 0.5 percent in June. That followed an even larger 1.1 percent fall in May. Excluding autos, spending was down a smaller 0.1 percent in June. Much of the weakness last month came from the drop in auto sales and a decline in gasoline prices. Excluding autos and gasoline, sales would have risen a slight 0.1 percent in June after having plunged 1 percent in May. Still, the lackluster performance of retail sales over the past two months is prompting fears that the fledgling recovery is in danger of stalling out. finance.yahoo.com

To: Giordano Bruno who wrote (260635)	7/14/2010 2:06:22 PM
From: Smiling Bob	Respond to of 306849

Gubba mint needs to figure out rates aren't the problem and up the incentive program Year's subscription to Netflix Gift cards to assemblage of crap sellers Pet sitting. Maybe some lawn care? Buy one, get one ------ Mortgage Applications Tumble By JOAN E. SOLSMAN The number of mortgage applications in the U.S. for home purchases fell to a 13 1/2-year low last week, the Mortgage Bankers Association reported Wednesday, in a further sign of the slump in homebuying since a federal tax credit concluded at the end of April. There have been fears for months that the incentive was stealing future sales and would result in a new leg down for the housing market once the support ended. New-home sales sunk to a record in May while pending total sales tumbled 30% from April. Mortgage applications for new homes were down 43% from the Independence Day week last year, said the MBA. The woes comes even as mortgage rates sit near record lows. Those rate declines have been giving some lift to applications for mortgage refinancing, which hit a 14-month high two weeks ago. But the MBA refinance reading fell 2.9% last week from a week earlier as its gauge for purchases dropped 3.1%. The share of applications for refinancing was flat at 78.7%. Overall, the MBA's application index declined 2.9%, adjusted for seasonal factors and the July 4 holiday, and the four-week moving average increased 1.5%. The MBA's survey covers more than half of all U.S. retail residential mortgage applications. Rates on 30-year fixed-rate mortgages averaged 4.69%, up from 4.68%, while the average for 15-year fixed-rate mortgages rose to 4.12% from 4.11%. The one-year ARM average was unchanged at 7.2%. Adjustable-rate mortgages made up 5.5% of activity last week, rising from 5.4% a week earlier. Write to Joan E. Solsman at joan.solsman@dowjones.com Close [x] Sign up in seconds to gain FREE access to exclusive WSJ.com tools & features: * Setup and manage your portfolio * Personalize your own news page * Receive and manage newsletters * Join the Journal Community Thank you for registering. We sent an email to: Please click on the link inside the email to complete your registration An account already exists for the email address entered. Forgot your username or password? This service is temporary unavailable due to system maintenance. Please try again later. The username entered is already associated with another account. Please enter a different username The email address you have entered is already in use. Please re-enter the email address. * First Name * Last Name * Email (your email address will be your login) * Confirm Email * Create a Password * Confirm Password * Company Size (Optional) From time to time, we will send you e-mail announcements on new features and special offers from The Wall Street Journal Online. Create a profile for me in the Journal Community Copyright 2009 Dow Jones & Company, Inc. All Rights Reserved This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com