Winter Weather Slows Homebuying: What You Need to Know
Hey there! I wanted to take a moment to share some recent news that could impact homebuyers and homeowners like you. This past week, we saw a noticeable drop in mortgage applications, primarily due to the winter weather conditions across the country. Many people were likely deterred from house hunting because of the snow and storms, leading to an 8.9% decrease in mortgage applications overall.
Specifically, the number of people applying for new home purchases took a hit, dropping 14% from the previous week. While some applications did go up slightly compared to last year, it’s still the lowest level we’ve seen since November 2025. So, if you’ve been considering buying a home, you’re not alone if you’re feeling hesitant right now.
On the refinancing side, applications also fell, but not as dramatically—down about 5%. However, if you’re thinking about refinancing, it’s worth noting that rates have dipped a bit, even if it hasn’t led to a big surge in applications. If you want to explore your refinancing options or discuss buying in this current market, give me a call! I can help you navigate through these chilly times.
