Another week down in 2023 and we’re seeing crazier action in the housing market as purchase application data fell, mortgage rates rose again, and weekly inventory took another dive with a noticeable move lower in new listing data.

Here is a quick rundown from last week:

• Purchase applications fell 6% weekly as the market digested the first round of higher rates. 
• Weekly housing inventory fell again by 6,858, keeping the post-2020 theme that housing inventory bottoms out a bit later than usual. 
• The 10-year yield had a rough week, almost reaching 4% intraday before falling Friday afternoon. Mortgage rates hit 6.80%, marking details ⇒

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