Mortgage rates are up so the sky must be falling

[mEDITate-OR:
not see that mtg apps - both REFI & purchase - ARE falling, a lot.
and will, for the foreseeable future.

What is strange is that in late 08 sales dropped of the cliff
and then rates jumped, a few months later. Why?

What happened at the beginnng of Q4-09 makes sense...
interest rates dropped and sales started up.
What is happening now also makes sense.
as rates start back up, sales start to fall, fast.
And they will, a LOT more.
RE markets are in even more trouble than they were already in...
and it was the worst we have seen in decades.
Uglier.
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Mortgage rates are up so the sky must be falling
Commentary: Boy have we been spoiled by low rates
http://www.marketwatch.com/story/mortgage-rates-are-up-so-the-sky-must-be-falling-2010-12-09
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