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To: Giordano Bruno who wrote (253085)	7/30/2003 2:27:28 PM
From: MythMan	Read Replies (5) \| Respond to of 436258

>>2:25PM Mortgage apps off sharply: warning on housing : Barring ton Research comments on the 24.3% decline in mortgage applications for the week ended July 25. According to firm, at the current level, the composite index is below the year ago level for the first time in over a year. While Barrington does not see an actual housing bust unless rates rise substantially in the near-term, firm believes that in this age of short investor time horizons, housing-related stocks could come under pressure with further rises in mortgage rates and declines in mortgage activity. Notes that the plunge in refinancing activity is obviously a negative for banks and other financial institutions that have been major beneficiaries of the preceding boom.<<