Mortgage applications jump 11%

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Real Estate

As some states reopen from the nationwide coronavirus shutdown and open houses reemerge, buyers are coming back to the housing market much faster than expected.

Buyer demand kept mortgage application in the positive last week, up 0.3% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

Applications to purchase a home rose for the fourth straight week, jumping a decisive 11%. They were still 10% lower compared with the same week one year ago but that annual loss has been shrinking markedly. Last week, purchase volume was down 19% annually, and one month ago it was down 35%.

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