(RECAP: This year is already one-third in the books, and everyone is waiting for that fabled “pent-up housing demand” to announce its presence, just like every sunny-side up analyst is waiting for that fabled “money on the sidelines.” But if it’s coming, it’s taking its sweet time and it’s definitely not dropping any hints on when it plans to arrive. Mortgage originations in general are at a 14-year low according to the Mortgage Bankers Association, while mortgage applications are down 16% from this time last year. Black Knight Financial Services, which has slightly different metrics, reports that mortgage activity is actually at its lowest level since 1997.)