In 2025, purchase application data shows a 22% year-over-year growth, with 25 consecutive weeks of increase. A low starting point from 2024, characterized by negative performance due to high mortgage rates, contributed to this growth. This year, mortgage rates are lower which, along with increased new listings, has positively impacted purchase applications. Year-to-date weekly data reveals 13 positive, 10 negative, and 5 flat readings, indicating diverging trends compared to the previous year’s data, where only two positive readings were observed in the first half.
After today's report of 22% year-over-year growth, purchase application data has shown 25 consecutive weeks of YoY growth, indicating a stronger market than last year.
Mortgage rates increased from 6.63% to 7.50%, leading to predominantly negative data last year. However, this year’s lower rates combined with new listings growth have improved YoY data.
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