Hosep Stepanian

While this spring hasn’t exactly sparked a booming real estate season—home sales remain close to a 30-year low—there are some encouraging signs that activity may be picking up, especially when it comes to mortgage demand. According to Lawrence Yun, chief economist at the National Association of REALTORS®, “The latest application data is clearly showing some positive encouragement.” And the numbers back that up. For the week ending June 6, mortgage applications were up 20% compared to the same time last year, based on new data from the Mortgage Bankers Association. What’s more impressive? That increase came even as rates remained relatively steady. “Despite ongoing uncertainty surrounding the economy, home buyers seem to be taking advantage of loosening housing inventory in certain markets,” says Joel Kan, deputy chief economist at MBA. In fact, housing inventory has climbed 20% year over year. However, that rise in listings hasn’t yet translated into a noticeable increase in closed hom...