Housing inventory turned negative year over year as supply hit 795,921 vs 803,479 last year, with rates at 6.56%.

MBA reports applications fell 8.5% as the 30-year fixed rate rose to 6.65%. Refinances fell 18% and purchase demand dipped 0.4%.

Even if we go negative year over year soon, we are in a much healthier spot with inventory than we were from 2020 to 2023.

MBA veri show mortgage applications fell 2.3% as the 30-year fixed rate rose to 6.56% and the purchase index dropped 4%.

Pending sales rose to 78,006 and purchase apps rose 7% yearly, even as mortgage rates hit highs and yields neared 4.60%.

Pending sales rose to 78,006 and purchase apps rose 7% yearly, even as mortgage rates hit highs and yields neared 4.60%.