Wednesday, February 14, 2007

Rise in mortgage applications

U.S home mortgage applications rose 1 and a half percent last week, fueled by an increase in mortgage refinancing. Is this a good sign about the health of the U.S housing sector? I doubt it. First time mortgage applications are still way down despite the recent uptick in refinance loan applications. A look at the four week moving average shows it was still down 1.6 percent for the month.

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