This is CBS, I in the world. I'm John Batcheter. The Business of America is small business.

I welcome my colleague and friend Jean Marks, the Small Business columnist for the Guardian newspaper, UK U.S. Edition, as well as our hometown

newspaper of Philadelphia Inquirer, and writing for other distinguished publications,

watching the Federal Reserve watching inflation.

We begin with news on mortgage applications.

Gene recommends we watch this very carefully.

I have learned from him over the years that housing generates other

positives in our economy. Family formation is a way of talking about housing. Young people marry and plan for a family,

and that means that they need a house or something near to.

They need furniture, they need relatives,

they need food, housing formation, and when the

housing formation, when the family formation and the housing's slow down, you

have problems throughout the economy. Gene, a very good evening to you.

Mortgage applications, you recommend we watch it.

Is it moving?

Good evening to you.

Hi, John.

Yeah, so it's another metric that I'd like to talk about more in the coming months, John.

I know you know you and I love that the American Institute of Architects, you know, on the

architectural billings index and a few other favorite ones, but I've been paying more attention to mortgage

applications. It's published every month from the Mortgage Bankers Association

it's not too hard to find. Mortages are important when mortgage applications from mortgage bankers and brokers across the country are going up that gives an indication

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