Analysis and Data
A 4% jump in purchase applications led the 1st increase in 8 weeks.
Revised Primary Mortgage Market Survey (PMMS) debuts Thursday at noon.
Urban Institute research shows the inability to repay debt or build generational wealth widens the racial wealth gap.
Higher rates and the worsening outlook for the housing market and economy cited for decline.
Redfin says the increases in income needed to afford a median-priced home are especially high in Florida.
Chief Economist Lawrence Yun says prices could rise slightly in 2023.
Rate lock volume is now down are now down 30% over the past three months and 61% YOY.
Rates posted their largest single-day decline since 2009.
Focus on rates has shifted how borrowers shop for mortgage
A survey done by Offerpad reported that more than a third of Americans are hopeful about the housing market, despite recent shifts.