Housing Market Update: Homebuying Demand Ticks Up Slightly After Last Week’s Record-Fast Rate Drop
Mortgage-purchase applications and Redfin’s Homebuyer Demand Index both increased as rates stayed around 6.6%, down sharply from 7% earlier this month, saving the typical buyer over $100 in monthly mortgage payments. Still, supply is piling up–posting a record annual increase–as pending sales fell the most on record. We are taking a short break from analysis