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

• Purchase application data had a solid week-to-week gain of 25%. That’s a big jump, but context is critical. 
• Housing inventory decreased by 566 units, which is not a significant decline.
• Mortgage rates fell, but the bond market didn’t break what I see as a critical level, so for now, stabilization is more important.

Last week’s housing market data provided mixed news. Purchase application data had a solid week-to-week print of 25% growth, but the more valuable metric is that the year-over-year declines were the lowest in many details ⇒

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