Submitted by Anthony Saunders via Confounded Interest blog, The housing and mortgage evangelists on CNBC and Fox Business are going to have to rewrite their “2015 is going to be a big year for housing!” meme. Nirvana it isn’t. Mortgage applications decreased 13.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending February 13, 2015. The NON seasonally adjusted Purchase Index decreased 2 percent from one week earlier and are at the same level as one year ago. The seasonally adjusted Purchase Index decreased 7 percent from one week earlier. And mortgage purchase applications are down 66 percent since October 2004. The Refinance Index decreased 16 percent from the previous week thanks to an increase in the 30 year mortgage rate, The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 3.93 percent from 3.84 percent, with points increasing to 0.35 from 0.31 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans. Sadly, the housing and mortgage Nirvana meme is sounding more and more like the late Kurt Cobain mortgage market.