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Purchase mortgage applications fly higher

Feb. 10, 2016 3:02 PM ETPulteGroup, Inc. (PHM) StockTOL, PHM, FNF, XHB, FAF, ITB, MTG, RDN, ITICBy: Stephen Alpher, SA News Editor7 Comments
  • It's notoriously difficult to read anything into the weekly mortgage applications report from the MBA, as a weather event or timing of a holiday can throw things off.
  • Instead checking the year-over-year figures over a period of several weeks, Seeking Alpha contributor Markos Kaminis finds purchase applications averaging 20% growth so far in 2016, including a 25% Y/Y gain for the latest reported period.
  • A check of the price charts of a number of housing-related stocks - homebuilders, title companies, mortgage insurers - paints a far more depressing picture of real estate, and suggests investors may have a buying opportunity at hand.
  • Notable tickers: XHB, ITB, PHM, TOL, MTG, RDN, ITIC, FAF, FNF

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