Market Update

Summer love for housing as rates tick even lower

Summer love for housing as rates tick even lower

The numbers don’t lie. Economists at Freddie Mac report home purchase demand is up 20% annually and at its highest level of activity since 2009. The Mortgage Bankers Association delivered similar data this week, with purchase applications up for a ninth straight week. On a yearly basis, the MBA shows purchase applications are up 21%, the highest volume in more than a decade. 

This is due to a combination of historically low interest rates—that seem to get lower every week—and the reopening of the economy.

Continue reading Summer love for housing as rates tick even lower at Movement Mortgage Blog.

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