Below is a chart and brief excerpt from today's Early Look written by Hedgeye Director of Research Daryl Jones.
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On the U.S. domestic front this morning, we received an interesting data point on Mortgage Applications that came in at +14.6% year-over-year, but, and there is always a but, the data set showed the second weekly decline. Now we certainly aren’t suggesting that housing is going to crash from here, though it is getting increasingly evident that we may be closer to a peak. We’ve attached this data series in the Chart of the Day. |
