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I'm not the biggest believer in the real estate market being the biggest reason the U.S. economy pushes forward. Like a tax cut, it has its moments. Like tax cuts, those moments are passed, and now it's back to the basics of the economy.

That was the case with the real estate cash register machines of the past few years. Now, it's all about incomes that are going to push the economy forward.

For those of you that feel the real estate industry IS that important, then here's some news for you. The mortgage applications for the week have hit some higher numbers.

click to enlarge
mortgage applications

We've been sort of bottoming out at these levels with mortgage applications, and appear to be moving moderately higher. I don't foresee any kind of real estate booms like we just witnessed. But, I do foresee some support.

Source: Mortgage Applications Perking Up