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Be on the hook if the new federal insurance coops do not work out as planned . All that and more tonight on nightly Business Report for wednesday, february 26th. Good evening, everyone. Im gill griffith. Tyler is off tonight. And im susie gharib. Good evening from me as well. Well, you may not know by looking out your window or at the calendar, but the all important spring housing season has already begun. And today we got conflicting and divergent signals about the direction of the u. S. Housing market. Sales of new homes in january unexpectedly shot up by nearly 10 , reaching the fastest sales pace in five years. At the same time, Mortgage Applications last week fell almost 9 . Thats the lowest level in two decades. So how do investors make sense of the data . Which way is housing headed . And what does it mean for home buyers and sellers . Diana olick reports. Reporter it was last spring in an interview on cnbc that housing guru ivy zelman uttered these fateful words. I think were i

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