Purchase loan applications jump by a seasonally adjusted 11% after 5 consecutive weeks of declines as mortgage rates continue to retreat from 2024 highs
Applications for purchase loans have dropped 4 weeks in a row, plummeting by a seasonally adjusted 10% last week, according to a survey of lenders by the Mortgage Bankers Association
The trend could bode well for the spring homebuying season, the Mortgage Bankers Association said Wednesday, but Federal Reserve policymakers may take their time before cutting rates