Thread by @RodDMartin

🚨 U.S. mortgage applications just SURGED nearly 11% in a single week.

Refinancing up 23%. ARMs at their highest since 2022.

Can you imagine what would happen if the Fed actually CUT rates? 🧵👇

2/ The Mortgage Bankers Association just reported:

📈 +10.9% in overall applications
📈 +23% in refinancing
📈 +25% jump in adjustable-rate mortgages (ARMs)

3/ Why the surge?

Rates dipped.

➡️ 30-year fixed: 6.67%
➡️ 15-year fixed: 5.93%
➡️ 5/1 ARMs: 5.8%

Even a small drop has unleashed demand. Imagine what a long overdue Fed rate cut would do.

4/ Refinancing now makes up nearly half (46.5%) of all applications.

Meanwhile, demand is climbing:

🏡 Purchase index up 1% from last week
🏡 17% higher than this time last year

Yes, despite high prices, Americans want to BUY.

5/ The Fed has been crushing the housing market with sky-high rates for 3 years.

But now, the data shows the truth: the market is ready to roar back to life if the Fed gets out of the way.

6/ Bottom line:

Mortgage demand is surging. Families are desperate for relief. The economy is begging for growth.

If the Fed will just do the right thing, we could see a real estate boom that lifts the entire economy to even greater heights.

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