Housing Hopes! Goldman Sees Incremental Confidence From Prospective Buyers
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Housing hopes
The Goldman "Housing Activity" indicator sees key data points up for the 3rd consecutive week.
"This reflects a further increase in key data points, including home sales, prices, and mortgage purchase apps, though generally to a lesser degree than the prior 2 weeks. With this, the scale is now up 17% since late February, which in our view reflects a stabilization in the 30-year mortgage rate—as it's ~40bps below the year-to-date peak—along with better weather. We believe this has given prospective buyers incremental confidence following a choppy start to the selling season"