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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Ramsey Su who wrote (41501)9/14/2005 9:01:25 AM
From: russwinter  Read Replies (3) of 110194
 
If they had "labor and materials" bottlenecks and shortages pre-Katrina, imagine now. Resources are being misallocated to this sector. The US would be well served right if housing starts were halved. Meanwhile things appear overheated as ever.Let them "pause" and watch this Train Wreck issue just rage even more out of control:

WASHINGTON, D.C. (September 7, 2005) - The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending September 2. The Market Composite Index - a measure of mortgage loan application volume - was 771.6, an increase of 6.8 percent on a seasonally adjusted basis from 722.5 one week earlier. On an unadjusted basis, the Index increased 5.4 percent compared with the previous week and was up 11.8 percent compared with the same week one year earlier.

The seasonally-adjusted Purchase Index increased by 6.1 percent to 499.1 from 470.6 the previous week whereas the Refinance Index increased by 7.7 percent to 2357.1 from 2187.8 one week earlier. Other seasonally adjusted index activity includes the Conventional Index, which increased 6.7 percent to 1161.1 from 1088.6 the previous week, and the Government Index, which decreased 9.1 percent to 121.7 from 111.6 the previous week.
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