Demand for purchase loans, a tentative early indicator of home sales, edged higher, but activity was down from a year earlier, further evidence that the housing market has hit a lull after showing signs of a recovery late last year.
This is no good. Management of preception economics (MOPE) requires that the cause - set by leveraged liquidity, must coexist with the proper effect - headline spin, or the illusion will crumble. This headline needs to be reworded as home loan demand down, but better than expected.
Source: finance.yahoo.com
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