There is doubt circulating as to whether the Vero Beach housing recovery will continue. Mortgage applications are down and refinancing is down dramatically since interest rates started rising throughout the summer. A lot of banks are laying off workers in the mortgage refinancing departments in anticipation of slower refinance applications into the future.
In a recent CNBC interview, Anthony Chan, Chase Private Client Chief Economist, says he doesn't think these things are indicative of a slowdown in the housing recovery.
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