Is mortgage demand really picking up?
Housing Wire
JUNE 22, 2024
Are we seeing the start of a market shift in mortgage demand? Notably, mortgage rates have been gradually declining, and we’ve observed back-to-back positive weeks in purchase application data for the first time since mid-March. While I typically prefer to see a sustained growth of 12-14 weeks before concluding there’s been a sea change, the low bar in purchase application data suggests that even a slight change could push demand higher if mortgage rates keep falling.
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