Home purchases and refinance applications are down to the lowest level in 22 years.
“‘I don’t think that home sales are going to grind to a complete halt. They’ll just slow. People will still be able to sell homes, but it may take you just a little bit longer than what it’s been.’”
“The U.S. housing market is at the beginning stages of the most significant contraction in activity since 2006,'” Len Kiefer, deputy chief economist at Freddie Mac FMCC, -2.43%, tweeted.
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