Tag Archives: Redfin’s Homebuyer Demand Index

A double-digit increase in new listings is helping bring house hunters off the sidelines, as Redfin reports new life in the marketplace to close out 2023.

With the 30-year, fixed-rate mortgage edging closer to eclipsing the 8% mark, the MBA reports overall application volume falling from last week’s total, dipping to the slowest weekly pace reported since 1995.

Despite fixed-rate mortgages moving upward to levels last recorded in December 2000, the MBA reports both purchase and refi apps rose week-over-week, the first such increase in over a month.

“There’s a fair amount of demand for lower-priced single-family homes, which in this area means around $400,000 and under,” said Redfin Premier Agent Brynn Rea.

The MBA reports that mortgage rates exceeding the 7% mark and declining purchasing power leading are contributing to fewer new applications nationwide.