Mortgage applications down as purchase demand falls

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This article published February 15th by Reuters reports that mortgage applications are down, indicating a dip in demand for home purchases. This report comes at a time when forclosures are increasing, adding to the downward pressure on home values. This information also seems to contradict the optomisitc view expressed by some experts earlier in the year that the housing market had reached bottom.

http://mobile.reuters.com/article/idUSTRE8170XM20120215?irpc=932

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