Having slipped last week, the number of applications to secure a purchase mortgage loan for an existing home in the U.S. has since ticked back up 5 percent on both an absolute and seasonally adjusted basis. That being said, purchase mortgage activity was still 32 percent lower than at the same time last year, as it was the week prior, according to data from the Mortgage Bankers Association.
Weird how crucial posts like this generate no comments, but a post about a property listing will generate a plethora of comments on minutia like bathroom tile selection.
Perhaps this wasn’t crucial news. I think the increase in buying activity highlighted here will turn out to be a mere blip in the great overlying trend downward, and in fact dropped 5 percent over the week since this was posted.