“It certainly was good news, the biggest drop and the lowest level since the week of Thanksgiving,” said Diane Swonk, chief economist at Grant Thornton. “Of course, there’s something in common between the week of Thanksgiving and the most recent week. And that was, a lot of applications that usually get done didn’t get done last week.” The deep freeze in Texas and Oklahoma caused electricity outages and people literally couldn’t get applications in, Swonk said. She also noted there was a nice improvement in California.