Last week, mortgage rates hit a 21st-century high, the 10-year yield closed slightly higher than my peak forecast for 2023, and housing inventory growth was still slow. Purchase application data didn’t budge much on the week-to-week data.

• Weekly active listings rose by only 4,401.
• Mortgage rates went from 7.19%% to 7.37%.
• Purchase apps were flat week to week.

Weekly housing inventory

Mortgage rates have been near or above 7% for the last few months, and active listings growth has been slow during this tenure. I had anticipated active listings growth to be between details ⇒

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