Last week saw a slight increase in mortgage applications for the first time since June.
As the average 30-year fixed mortgage rate had its greatest weekly decline since 2020, overall mortgage demand grew by 1.2 percent.
According to the Mortgage Bankers Association, applications to refinance a property increased by 2 percent,
but the yearly decline was still significant, falling by 82 percent from the previous year.
Applications for home purchases were up 1% but down 16% from the previous year.
There are some signs of progress, according to the National Association of Home Builders.
Although housing trends have fallen for five consecutive quarters, according to the NAHB.
