No wonder there is so much uncertainty as to what is going on. If you click the links you find that these stories cover back-to-back one-week periods. This sort of time period is hardly indicative of any trend, especially when they conflict with each other. Also, when you read beyond the headline about "sliding" applications, you find this information:Refinance volume plunged 15.3 percent during the week, while purchase volume increased 6.1 percent.So actually purchase loans increased during this time period which is a better indication of what the real estate market is doing. You certainly wouldn't know that from reading the headline.
CNN is of course dealing primarily with national trends which may or may not have any bearing on your local market. Keeping an eye on your local information and speaking with local professionals is your best bet to keep a finger on the pulse of market.
