Mortgage applications numbers get stronger each week as homebuyers rush back into the market, hoping to get their hands on what few homes there are for sale. Another record-low mortgage rate didn’t hurt.
Mortgage applications to purchase a home rose 5% for the week and were a stunning 18% higher than a year ago, according to the Mortgage Bankers Association’s seasonally adjusted index. As the coronavirus outbreak was surging six weeks ago, applications by homebuyers were down 35% annually. Continue reading.