From NAR
After historic lows in 2023, new data shows home-purchase mortgage applications increased slightly in 2024—from 6.54 million to 6.55 million—leading to 3.5 million loan originations.
Although modest, this uptick signals renewed demand, aided by stable interest rates around 6.5–7 %. Some metro areas saw strong gains, while others still faced declining applications.
For REALTORS®, the takeaway: buyer interest is stirring—but markets will be uneven. Use this data to inform your strategies locally and adjust your client guidance accordingly.
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