Today the National Association of Realtors reported an unexpected 7.6 percent monthly drop in its Pending Homes Sales Index in January.

I’ve been talking to a lot of Realtors this week, who tell me that there are definitely folks out there kicking the tires, but it’s all about price point.

Despite the fact that government officials continue to tell me that mortgage “walkaways” (borrowers who voluntarily stop paying their mortgages because their loans are worth so much more than the value of their homes) are really not a big problem, today they extended the Home Affordable Refinance Program by a year.