Based on the chart provided, the Purchase Index, which tracks mortgage applications for home purchases, has shown slight fluctuations over the past year. Notably, the trend reflects a stabilization in demand despite the persistent upward trajectory of mortgage rates, which now hover near 7%. This indicates resilience among homebuyers, who continue to pursue purchases despite rising costs.
Higher interest rates typically discourage borrowing, but this data suggests that the housing market is finding ways to adapt. If you’re navigating today’s market, working with an experienced brokerage like MORE, REALTORS® can help you identify opportunities that fit your goals.
The full chart is available below for further insights. Let me know if you’d like further assistance or adjustments!
Purchase and Refinance Index vs 30 Year Fixed Mortgage Interest Rates
Click the image below for chart with current, live data
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