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When mortgage rates rise, people rush to lock in, which keeps buying elevated for a period even after rate jump. At some point that wears off. If week ended May 13 is indicative, we've reached that point. Purchase apps fell 11.9% WoW to a May 2020 low & down 15.2% YoY
@pboockvar pic.twitter.com/2wWpoCN9PK— Danielle DiMartino Booth (@DiMartinoBooth) May 18, 2022
Source by Danielle DiMartino Booth
