Here’s why Financial Sector head Josh Steiner is highlighting the MBA Mortgage Application Survey that came out earlier this morning. It’s showing year over year strength, up 20.2%, which he says is important because it was one of the few housing indicators that wasn’t signaling strength – at least before today’s report. Here’s a chart that shows the MBA Survey’s year-on-year growth.
Takeaway: The MBA Mortgage Application survey is yet another piece of data that confirms our strong housing thesis.