Debt-ceiling drama pushed bond yields up last week, taking mortgage rates to a new 2023 high in the middle of the spring home-selling season. Active housing inventory, thankfully, saw some decent growth last week. Purchase application data had a second straight week of declines.
Here’s a quick rundown of the last week:
- Active inventory grew 8,914 week to week, even though new listing data is still trending at all-time lows in 2023.
- Mortgage rates rose to a 2023 year high of 7.12% as the debt ceiling talks pushed bond yields higher.
- Purchase details ⇒
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