Housing demand is still positive even with epic snowstorm

Mortgage purchase application data

2026 has had the best start to purchase application data in years, with multiyear highs in this index last seen in early 2023, when rates reached 5.99% before rising to 8% later that year. However, this year, conditions differ markedly for mortgage rates: the Fed has already cut rates substantially since 2023 and mortgage spreads are roughly back to…