"Today marked one of the best purchase loan reports we've seen in years. Not only did we achieve 20% year-over-year growth despite tougher comparisons, but we also experienced an 8% increase in demand from the previous week. If you're looking for a series of positive reports that demonstrate real growth in existing home sales, today's report is an excellent example."
"Since late 2022, whenever mortgage rates fall below 6.64% and approach 6%, housing data tends to improve. This improvement manifests in a way that I find encouraging, specifically through positive week-to-week data. If we can achieve 12 to 14 consecutive weeks of positive weekly data, we will establish a solid trend. So far in 2025, we have recorded 10 positive weekly purchase mortgage data prints since mortgage rates dropped below 6.64%."
"The housing market isn't booming by any means, but sales aren't crashing either. What we do know is this: Inventory is back to somewhat normal levels. As you can see in the chart below, data from the National Association of Realtors (NAR) has traditionally shown between 2 to 2.5 million active listings. The peak in 2025 was 1.55 million; in 2007, it was 4 million."
Purchase loan demand rose 8% week-over-week and 20% year-over-year, marking a notably strong purchase loan report. Mortgage rates falling below 6.64% and toward 6% have coincided with improved housing data, especially positive week-to-week readings. Since rates dropped below 6.64% in late 2022, there have been 10 positive and 7 negative weekly purchase mortgage prints and 17 weeks of double-digit year-over-year growth in 2025. Year-to-date figures include 22 positive readings, 18 negative, 6 flat, 43 straight weeks of positive year-over-year data, and 30 straight weeks of double-digit year-over-year growth. Inventory has moved closer to normal, peaking at 1.55 million in 2025 versus typical NAR ranges of 2–2.5 million and a 2007 peak of 4 million.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]