• Leonard Brecken

Mortgage Applications Fall

The Mortgage Bankers Association reported for second week in a row a significant decline in applications for mortgages for home purchases. For the 2/16 week the index fell 6% the same amount as the prior week most likely as a result from the 4 year high in long-term interest rates. This indicates a significant slowing to come in housing in the months to come as this index is leading indicator of activity.

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