Mortgage applications data due out Wednesday morning could provide evidence of a slowdown in housing sales that would augur a weakening economy. The supply of homes has remained tight, forcing prices up, even as 30-year mortgage rates have risen by 88 basis off their September lows of around 3.42%. With auto sales already falling from last year’s record levels, the U.S. economy could be in for a double whammy. Under the circumstances, it’s more than a little scary that U.S. stock averages are trading near their all-time highs.