CNNMoney reported yesterday that mortgage applications fell last week by 1.5 percent. Applications decreased as fixed interest rates went up.

This information comes from the Mortgage Bankers Association and follows other real estate news with slightly negative tones.

Zillow.com reports that "in the 12 months that ended June 30, nearly 25 percent of all homes sold nationwide fetched less than sellers originally paid."

They also are reporting that "home values nationwide declined nearly 10 percent over the past year, leaving almost one-third of homeowners who bought in the last five years in negative equity."

Published: August 14, 2008

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