Homebuyer mortgage demand jumps after interest rates drop to two-month low

Mortgage applications to purchase a home rose 8% last week, compared with the previous week.

Today's housing market is so pricey that homebuyers are highly sensitive to any distinct moves in mortgage rates. And that's what happened last week. Rates dropped, and buyers dove in. "Incoming data last week showed that the job market is beginning to slow, which led to the 30-year fixed rate decreasing to 6.30% — the lowest level in two months," said Mike Fratantoni, MBA's SVP and chief economist.

There's evidence of 'patient' buyers waiting on the sidelines for better rates, essentially guaranteeing future demand. Prices aren't much lower, but there's still a shortage and strong demand. Housing has some steam ahead

The housing market is back! wonderful. And CRE won't collapse either. fakenews liberalsruineverything

Is this reshoring of capital as well?

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