
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.
