After seeing disappointing inventory growth two weeks ago, which I chalked up to the Memorial Day holiday, I was hoping for a big push in active listings last week, but that didn’t happen. And, the recent uptick in mortgage rates to almost 7% slowed purchase application data again.
Here’s a quick rundown of the last week:
- Active inventory grew 6,722 weekly. I had anticipated much more this week after the holiday week slowed down, so a bit disappointing.
- Mortgage rates stayed in a small range between 6.89% – 6.94%
- Purchase application data had its fourth straight week of negative data details ⇒
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