A Chicago landlord who ran an advertisement on craigslist seeking “young college students or single females” faces charges that he violated the Fair Housing Act.

The Department of Housing and Urban Development claims the ad posted by the landlord, Cesar A. Lopez, discriminates against men and families with children.

The Fair Housing Act prohibits advertisements that state a preference based on race, color, national origin, religion, sex, familial status or disability

Lopez’s January 2006 ad — which advertised an apartment in an owner-occupied, three-story building — allegedly promised a “great apartment for a single person.”

An abrupt rise in interest rates helped cut mortgage application volume by 1.9 percent last week, the Mortgage Bankers Association reported today.

According to MBA, the seasonally adjusted decline was led by a 4.7 percent decrease in the index that tracks refinancings, despite a 1.4 percent gain in the purchase-loan index. As a result, the refinance share of applications fell to 50.6 percent from 52.4 percent two weeks ago, and the adjustable-rate mortgage (ARM) share dipped to 15.5 percent from 17.3 percent.

A National Association of Home Builders quarterly index that measures builder and developer confidence in the condo market dropped 11 points in the final quarter of 2007 compared to the same quarter in the previous year.

The Multifamily Condo Market Index, based on a survey of builders, stood at 18.8 in the fourth quarter on a scale of zero to 100. A score below 50 indicates more negative responses than positive responses.

About two-thirds of builders reported that they lowered condo prices to strengthen sales, with an average price reduction of 11 percent.