Nearly every data point to come out of the housing market in the past month has been positive, save for MBA mortgage applications. With this morning’s data, we finally see mortgage volume bouncing back 10% (purchase) for the week ended January 4 after tumbling 14.8% in the last two weeks of December. Next week’s data is capable of another bounce to the upside considering that this past week’s data still includes the New Years eve/day week. As we head further into the new year, we remain bullish on housing stocks and housing-levered financial stocks.
