Mortgage Applications Are 13% Higher Than a Year Ago

Mortgage applications continued an eight-week streak of gains as home buyers rush back into the housing market. Purchase applications, viewed as a gauge for future home sales, were up 5% last week compared to the previous week.
Despite the pandemic, applications for home purchases are now 13% higher than a year ago, the Mortgage Bankers Association reported Wednesday. “The recovery in the purchase market continues to gain steam, with the seasonally adjusted index rising to its highest level since January,” says Joel Kan, an economist with the Mortgage Bankers Association.
Continue… https://magazine.realtor/daily-news/2020/06/11/mortgage-applications-are-13-higher-than-a-year-ago