U.S. mortgage applications rose 4.6% compared to the previous week, Fox News reported September 19, 2007.
The increase marked the third straight week the Mortgage Bankers Association survey revealed a rise in mortgage applications.
Some analysts have begun to question the value of the survey as an indicator of future home sales.
"Multiple applications by borrowers who are ultimately rejected are counted in the survey, leading to overstated numbers, according to research from Lehman Bros."
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They should be up with all the ARM going to adjust. Not all these loan are problems. So I think we should be up for a while.