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.