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Purchase Applications Increase in Latest MBA Weekly Survey

Press Release MBAA

WASHINGTON, D.C. (May 2, 2012) — Mortgage applications increased 0.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 27, 2012.

The Market Composite Index, a measure of mortgage loan application volume, increased 0.1 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index increased 0.4 percent compared with the previous week.  The Refinance Index decreased 0.7 percent from the previous week.  The seasonally adjusted Purchase Index increased 2.9 percent from one week earlier. The unadjusted Purchase Index increased 3.7 percent compared with the previous week and was 3.0 percent higher than the same week one year ago.

via Purchase Applications Increase in Latest MBA Weekly Survey.

Due to a cease and desist letter from the Association, I cannot comment on this report. – Editor


This Week Will Tell If The Bear is Really Coming Out of Hibernation

Last week’s selloff did less damage than it may have felt like. The drop stopped in the area of 3 crossing uptrend lines, ranging in length from short term to long term. Here’s what would tell us whether the uptrend is still in force, or signal that something evil this way comes. I have added 8 new stocks to the swing trade chart pick list, including 2 shorts.

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