Jump in mortgage apps for home purchases shows buyers are back

[Neil Narayan]

Applications for mortgages to purchase homes gained for the sixth consecutive week to a level that was 6.7% higher than a year ago, back when a deadly pandemic wasn’t interrupting the spring home-buying season.

Last week’s so-called purchase apps were up 54% from early April when most U.S. states were under lockdown orders to keep people at home in an effort to stem the spread of COVID-19, said Joel Kan, MBA’s associate vice president of economic and industry forecasting.

“The housing market is continuing its path to recovery as various states reopen, leading to more buyers resuming their home search,” said Joel Kan, an MBA associate vice president.

https://www.housingwire.com/articles/jump-in-mortgage-applications-for-home-purchases-shows-buyers-are-back/