Will The Housing Market Recover This Year: Too Early To Tell – Irvine Real Estate – Irvine Homes for Sale

The first of this year’s major weekly mortgage market surveys, the Mortgage Bankers’ Association’s Weekly Mortgage Application Survey, will be released tomorrow, giving us a more reliable picture of where rates are headed now, but a clear downward trendlet may be emerging in the day-to-day movements. Rates have fallen from day to day for three straight days on the Bankrate.com overnight survey, and the week-to-week movements also turned negative on today’s survey. The downward trend is less solid on Zillow, especially in the more volatile adjustable-rate mortgage category; in the other categories, day-to-day changes are generally small enough to be classified as steady, while week-to-week changes appear to be solidifying in a downward direction.

What do you think??