After 5 weeks in a row of declines totaling 28%, notwithstanding historically low mortgage rates, the MBA said refi apps for the week rose 13.1% to a 4 week high. Purchase apps rose 11% also to a 4 week high. With the stabilization in housing a bright spot, albeit off dramatically low levels, lets hope this continues. Of note in Asia is the biggest one day decline in the yen in 2 mo's after the Japanese PM threatened to throw out Parliament and hold new elections where the opposition party LDP would likely win which could lead to an even...
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