We are off and going now, as seasonality has kicked into full gear with the purchase application data. And, so far, it’s been a good start to the year.

Here’s the housing market rundown for the last week:

• Purchase application data showed positive weekly growth again — and the bounce from the bottom is more noticeable now.
• Housing inventory decreased by 6,468 units, a more pronounced decline from the previous week. 
• The 10-year yield can’t break lower from the critical level I have discussed, so not much is happening with mortgage rates.

When I talk about seasonality, I am talking about details ⇒

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