Mortgage rates headed higher, up almost 3/4 percentage points from a year ago www.freddiemac.com/pmms pic.twitter.com/kzeLQyne4c

The avg. 30yr FRM rises to 7.17% www.freddiemac.com/pmms Chief Economist @TheSamKhater: "With rates staying higher for longer, many homebuyers are adjusting, as evidenced by this week’s report that sales of newly built homes saw the biggest increase since December 2022."

Housing demand is making a healthy recovery compared to last year. Purchase demand growth is spread throughout the country, but the most considerable growth is coming out of midwestern and southern states. However, some previously hot markets are moderating.

Sometimes I have an idea for a housing chart purely to make sense of many data points rolling through my head, namely how they relate over time. This is an example of that process showing how resale sales, listings, and price appreciation move together back to 2000. pic.twitter.com/dhOLIRB8PY