A 1.9% m/m drop in mortgage applications for home purchase in December left demand at the end of 2019 unchanged from the start of the year. The boost to demand from lower mortgage interest rates was offset by low levels of existing home inventory and tighter credit conditions. Those factors will continue to weigh on buying sentiment in 2020, and we expect home purchase applications will see only a modest rise over the year.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services