Since there’s not a whole lot of excitement in the world of futures this morning, we’re going to hone in on what’s going on in real estate.
Even with today marking the day of the Phase 1 agreement, not much is happening.
Meanwhile, in real estate, purchase application volume has hit the highest level since October of 2009.
They rose 16% for the week.
And are up 8% versus a year ago.
The refinance numbers are even more staggering.
Applications jumped 43% for the week.
And were 109% higher than they were a year ago.
The average contract interest rate for 30-year fixed-rate mortgages are at the lowest levels since September.
Unfortunately, buyer demand is bumping heads with near record-low supply.
That’s driving prices us.
What else is going on?
Check it out.