Today’s Hugely Bullish Housing Datapoint

Home Housing Complex Urban Sprawl Ontario

[credit provider=”Wikimedia” url=”http://upload.wikimedia.org/wikipedia/commons/9/97/London_Ontario_Urban_Sprawl.jpg”]

Another housing green shoot?According to the Mortgage Banks Association, mortgage applications surged 23.1% in the week ending January 13. That compares to 4.5% in the week before.

This is a really bouncy number. Sometimes it goes down a lot, sometimes not.

But as we noted in late December, this number (which had been grinding downwards week after week) had stabilised, and now it’s growing. Definitely a positive.