The real estate market is off to an energetic start in 2024 as mortgage applications experience a notable surge. This uptick in applications suggests that lower interest rates might be enticing prospective homebuyers, providing a ray of hope for the housing sector. Insights from a Mortgage Bankers Association report reveal a substantial increase in mortgage applications during the first week of January, even after adjusting for seasonal variations.
The surge in applications comes as a potential relief after a challenging year for home affordability. The real estate landscape faced headwinds in the previous year, with high property prices posing a. . .