Lower mortgage rates fueling existing home sales
MARCH 21, 2023
Existing home sales had a huge beat of estimates on Tuesday. This wasn’t shocking for people who follow how I track housing data. To understand why we had such a beat in sales, you only need to go back to Nov. 9, when mortgage rates started to fall from 7.37% to 5.99%. During November, December and January, purchase application data trended positive, meaning we had many weeks of better-looking data.
Let's personalize your content