Is housing on the mend or are recent fluctuations merely glimmers of false hope?
Last week we found out that the National Association of Home Builders/Wells Fargo Housing Market Index increased for the fourth month straight in August and mortgage rates ticked higher for the third consecutive week after weeks -- make that months -- of new record lows. But housing starts for July were weaker than expected and weekly data also showed fewer people sought to refinance or applied for a new mortgage.
Bulls and bears will again be looking this week for confirmation of their respective views. Here's what to look for in a battery of data over the next two days:
Mortgage Applications (Wednesday 7 a.m., ET): The Mortgage Bankers Association releases a weekly index of mortgage activity. Are prospective homebuyers waiting for better conditions yet -- if they exist -- or are they making their move now because they think rates and prices have alreadyRead More »from Housing Roundup: Lots of Data on Tap This Week