I’ll say this much: things have gotten very busy at open houses just in the past few weeks.
Mortgage rates were again at historic lows the last few weeks. This has spurred buying and refi interest. That’s good.
Conversely, today, mortgage rates jumped the most ever in one day. That’s not good.
All in all, the low rates did not last long enough for what is necessary to heal this housing market. Higher jumbo lines will help. Seasonality will help, but you have to compare year over year, and not Jan to Dec.
This market is still overpriced. But it won’t be for long if our government keeps going crazy with the money supply.
