Let’s Take a Moment and Appreciate What the Housing Market Accomplished Mortgage application volume dipped slightly last week after racing to an 11-year high earlier in June. But then, all of a sudden, the freefall stopped.Īnd almost no one but the most optimistic analysts could have predicted what happened next. Home purchase activity fell off a cliff in March and April, thrusting the real estate sector into freefall. housing market accomplished as the country emerged from its “medically induced coma” any less extraordinary. It had to end sometime, but that doesn’t make what the U.S. Mortgage application volume is still much stronger than anticipated.A closely-watched gauge of housing market demand fell last week after recording nine consecutive weekly gains.
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