Quote: Feb. 1, 2023

January 31, 2023

“Overall application activity declined last week despite lower rates, which is an indication of the still volatile time of the year for housing activity. Purchase activity is expected to pick up as the spring homebuying season gets underway, bolstered by lower rates and moderating home-price growth. Both trends will help some buyers regain purchasing power.”
–MBA Vice President and Deputy Chief Economist Joel Kan.