It’s interesting to see people reposting this story, “Mortgage demand surges!”
Talk about abusing statistics. This headline is based on mortgage applications which is a week-over-week statistic. Meaning, a huge increase in this as a percentage could simply mean the demand was low the prior week.
Also, let’s go back and look at what mortgage demand typically does right after the new year – https://new.jeremywhittaker.com/plots/indicators/united-states/united-states_mortgage-applications.html
January 13th, 2023 up 27.9%
January 8th, 2021 up 16.7%
January 10th, 2020 up 30.2%
January 4th, 2019 up 23.5%
So mortgage demand for this time of year is significantly down from its historical norm(not to be mistaken for anything statistically significant).
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