US Home-Purchase Applications Climb to Highest Since 2023
US mortgage applications for home purchases climbed last week to the highest since January 2023, suggesting a further easing in financing costs is contributing to a thaw in the housing market.
The Mortgage Bankers Association’s index of home-purchase applications rose 5.1% in the week ended Jan. 16, data from the group showed Wednesday. The contract rate on a 30-year mortgage slipped 2 basis points to 6.16%, still the lowest since September 2024.