General World News

Have lower mortgage rates already boosted housing demand?

Did the recent move lower in mortgage rates turn the housing market positive? With mortgage rates moving almost 75 basis points lower from the highs, does the data show that demand has improved? Let’s take a dive in the weekly tracker to see.

Purchase application data

Last year, when mortgage rates fell from 7.37% to 5.99%, we got three good months of positive purchase application data until the first week of February before mortgage rates started to run higher from 6%-8%. We need to focus on the data weekly to see if lower mortgage rates can once again spur purchase details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com