Mortgage applications for home purchase lost some steam in June, with the 0.9% m/m increase the smallest since February. With mortgage interest rates once again on the rise, and a severe shortage of homes for sale, housing market activity will struggle over the remainder of the year. That said, the moderation in the average home purchase mortgage size is an early sign that first-time buyers are returning.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.