Spring housing market surges with 11% increase in mortgage demand!

Weekly mortgage demand increased 11% as spring housing market gains momentum. Lower interest rates and increased home listings drive market activity, with a notable rise in homes actively for sale, especially in the $200,000 to $350,000 range. Refinancing applications also saw an 8% increase. The positive trend in inventory levels and home listings signals a promising start to 2024. Notably, the South region leads in home sales due to lower prices. FHA loans show strong demand among first-time homebuyers.