AI Data Insight
According to the latest data from DataTrack, the US Q4 MBA Purchase Index (as of October 23) rebounded from 129.2 in the previous week to 134.1, halting its recent downward trend. Benefiting from a slight decrease in the 30-year fixed mortgage rate to 7.37%, home purchase applications have rebounded; however, the overall performance still lags behind the same period last year. Future housing market momentum will highly depend on inflation trends and the Federal Reserve's subsequent interest rate decisions.