The Housing Market is completely frozen. From California to Florida, and everywhere in between, buyers have simply given up. This isn't just my opinion new data published by the Morgage Bankers of America, proves this point. The MBA index which measures weekly mortgage loan applications just hit 178.2 marking the lowest reading since 1995. In fact following the most recent peak in 2021, this index has fallen a staggering 82%. One of the worst declines ever. Now what this essentially means is that nobody is interested in buying a home. Demand is dropping off a cliff due to various factors most importantly the insane interest rate rise. And because of this freefall, the housing market is going to get very interesting this winter.

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