Freddie Mac CEO reveals why 6.72% mortgage rates still triggered 25% surge in applications
Key Points
- Mortgage rates jumped to 6.72%, yet home purchase applicatio...
Mortgage rates just pulled a classic "hold my beer" moment, jumping from 6.67% to 6.72% in one week while home applications somehow surged 25% year-over-year. It's like watching someone order more drinks after the bartender raises prices - apparently, the American dream doesn't care about your math.
The Great Rate Rebellion
Sam Khater, Freddie Mac's Chief Economist, dropped some numbers that would make a statistician do a double-take. Despite mortgage rates climbing to 6.72% on July 10th, home purchase applications jumped 25% compared to last year, and refinance applications shot up 56%....
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