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Mortgage Applications Rise as Housing Market Shows Signs of Strength
Mortgage applications are up 2% compared to last year, with builder applications for new homes rising nearly 9% year-over-year in December. New home construction remains strong, and existing homes are sitting longer, signaling improved inventory levels.
With GDP growth projected to slow, interest rates could decrease, setting the stage for a promising spring housing market. Buyers and sellers should prepare for opportunities as the season approaches.
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