JUST IN: Mortgage demand is now down 50% from pre-pandemic levels and at its lowest level since 1994.
— The Kobeissi Letter (@KobeissiLetter) November 4, 2023
From its peak in 2021, mortgage demand is down ~64%.
Current mortgage demand is ~75% below the 2005 peak.
The most incredible part of this?
Mortgage rates are still only at… pic.twitter.com/BQF9LrAe5B
And in keeping with the news of the day…:-)
https://twitter.com/its_The_Dr/status/2066664463571329028