As Rates Tick Up, Mortgage Applications Continue To Collapse

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Photo: By TheTruthAbout on flickr

The rise in long rates is a bullish sign, but it obviously has a downside.The Mortgage Bankers Association says that new applications fell another 0.9% last week, after a huge 16% decline the week before.

If there’s one thing we wish Bernanke had been asked on 60 Minutes, it would be on this issue of the rise in rates, and whether it’s a sign that QE is failing.

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