Have been following this information on stock market stations. Mortgage applications have jumped for the rich. Fortunately, many million + homes around me. Little people in working world still not budging.
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With reports that the feds may drop rates three times next year, maybe there will finally be a turnaround in business.
Looks like we know where to focus on our efforts! Thank you for posting this and making me think about this… I had been thinking of how to find out which states are experiencing a boom.
I like to listen / watch CNBC Squawk box when I’m working in my office. They touch on a little bit of everything in the world. I live in Bonney Lake WA and the area is still in a building boom with building over priced McMansions but they are getting cash buyers from US and other countries. My personal thoughts more ranch style homes need to be built for seniors and first time home buyers but builders only have there eyes on the big money. Building McMansions will eventually have water and power crisis. Politics is having an affect on investors as to where people want to live. Might as well purchase that toy ball where you ask a question and shake it for the answer. 
That’s a really great stocking stuffer. Thanks for the post.
There’s more to Real Estate sales and refi volume than mortgage interest rates. Inventory, building codes, location, local economics, and many other factors weigh in. A fractional dip in interest rate don’t reflect the steady state the of the Fed prime rates. Many banks are competing against builders who are carrying the mortgage. While it may seem like thing are improving, the broader economic indicators are indicating a slowing economy, which is expected as the Fed’s goal was to cool down the economy to help tackle inflation.
"Purchase volume was running about 18 percent below last year’s pace, as prospective homebuyers are still challenged by a lack of inventory, even as rates have decreased.”
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