The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: zebra4o1 who wrote (22026)	7/8/2004 7:14:44 PM
From: Tradelite	Read Replies (2) of 306849

zebra....did you see today's front-page story in Wall Street Journal {Personal Journal section) with headline: SURPRISE: MORTGAGE RATES ARE FALLING? Quote from story: The decline in rates has already produced a surge of new loan applications. U.S. Bank Home Mortgage, a unit of U.S. Bancorp, says average daily loan volume is up 25 percent this month over June's levels....At Chase Home Finance, applications are up 15 percent, though some of the increase could be due to the shorter holiday week...The Mortgage Bankers Association said yesterday that its weekly index of mortgage applications increased 19.5 percent on a seasonally adjusted basis. Last week's level of purchase activity was the second highest in history, according to the MBA. Did you see the WSJ story in the past week or so about the brightening prospects for mortage insurers? This market is a puzzle, for sure.

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