“Mortgage applications are up 28% from early November as the average 30-year-fixed mortgage rate has declined to 6.15% from its November peak of 7.08%—the largest 10-week decline since 2009. That has sent the typical homebuyer’s mortgage payment down 10% (about $180) since fall. Pending home sales rose 3% in December from November on a seasonally-adjusted basis—the first month-over-month increase in 14 months.”
The article covers a lot more, but figured I’d post since a lot of people like to look at Redfin’s data. Their info shows buyers stepping back in with rates around 6.15% now, and bid wars heating back up in certain markets. Anyone seeing similar in their backyard?
submitted by /u/Flaky-Professor