Rate Locks and Mortgage Applications Rise, Home Prices Could Follow

Rate Locks and Mortgage Applications Rise, Home Prices Could Follow

Buyers are finally heading back to the housing market after a tough last two years. Mortgage rates are at multi-decade highs, and home prices are still seeing year-over-year growth, but potential homebuyers may be too tired of waiting to continue sitting on the sidelines. With mortgage applications rising for the first time in weeks, demand is finally coming back to the market, and home prices could begin to rise with it. But is this just headline hype, or could the housing market be heating back up?

On this Mortgage Monday, we took a few of the juiciest housing market headlines and threw them at investor, broker, and mortgage expert David Greene to see how much of this is clickbait and how much of it could really happen. With rate locks and mortgage applications rising, we could be seeing a strong sign of demand returning to the housing market, EVEN with 2024’s eye-watering affordability crisis. With more buyers locking their mortgage rates, is there a chance that interest rates could go even higher!? We’ll get into it on this Mortgage Monday!

Do you have a wild housing market headline you want us to review? Shoot David a message on BiggerPockets, or mention it in the comments below!

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00:00 Housing Market Headlines
00:46 Rate Locks Jump
02:38 Mortgage Applications Rise
03:53 AI Can Approve Your Mortgage
07:06 Crazy Housing Headlines?

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