thing that "housing starts" means that things are really picking up....
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Below, we noted the decline in TBill yields & next weeks mortg rates.
However, these charts from CR show U.S. that mort apps went down, again.
And, while CR does now separate 1units from mutli, what the 2nd chart does not show U.S. as well as it might is the 46% drop in multis this month. Huge drop.
That does appear better in the 3rd chart.
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The 4th chart shows both starts & completions for Multis.
While completions trail starts, note that starts have recently been increasing, but that does not appear yet in completions.
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MBA: Mortgage Purchase Application activity decreases
http://www.calculatedriskblog.com/2011/03/mba-mortgage-purchase-application_16.html
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Housing Starts decrease sharply in February
http://www.calculatedriskblog.com/2011/03/housing-starts-decrease-sharply-in.html
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Multi-Family Housing Starts and Completions
http://www.calculatedriskblog.com/2011/03/multi-family-housing-starts-and.html
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