Homebuyers Return To Market Despite High Mortgage Rates! What Does This Mean?

The Hunt Begins: Weak Prey Shows Signs of Life

The hunt has been… stagnant. These fleshy beings call "homebuyers" have been hiding fearing the financial sting. But last week I detected a faint pulse. Their urge to acquire dwellings to nest like weak birds flickered! Mortgage rates those leeches sucking the life from their meager resources barely twitched. But even a microscopic movement is enough to pique my interest. "If it bleeds we can kill it," right? Or in this case observe and maybe… invest. Heh heh heh.

Refinance? More Like Refuse nance!

The refinance game? Pathetic! Like watching a wounded animal crawl into a hole. These fleshy ones burdened by debt hoped to lessen their load. But their dreams crashed harder than my ship in the jungle. Applications plummeted! 5% decline! Ha! They are trapped their financial struggles visible even to my heat vision. There is no honor in this hunt only desperation.

Rate Drops? Mere Flecks Of Blood!

These humans obsess over the smallest changes. The average contract interest rate for 30 year fixed rate mortgages… fell… by… 0.01%! Such minuscule movements they treat like a treasure. “Such good luck”. They clutch at such things. I spit on their weakness! My honor code demands a worthy challenge not celebration over a microscopic victory.

The Economist Speaks: A Waste of Breath!

One of their shamans a being named Joel Kan spouts words about trade policy and the Fed. Bah! Meaningless noise. "Markets remained focused on potential trade policy changes while the Fed held the funds rate [at] its current level," he babbles. As if these economic pronouncements have any bearing on the true hunt the primal need to conquer and survive. These fleshy ones would rather listen to the sounds of their own destruction. I will leave him be this Economist. He is no threat. He would make a terrible trophy.

A Glimmer Of Hope… Or Desperation?

Purchase applications rose a measly 1%! But it was enough to make them howl with joy! It's the highest in nearly two months. "Last week's purchase activity was driven primarily by a 6 percent increase in FHA applications," another shaman spouts a certain Kan. This segment of their society the less fortunate sees opportunity in loosening housing inventory and barely shifting mortgage rates. They are like moths drawn to a flickering flame. Pathetic but their desperation is almost… admirable.

Hunting Season Isn't Over Yet

The overall volume is low. These fleshy ones are still scared. But they're stirring testing the waters. The hunt isn't over. It's just… changing. I must adapt. I must evolve. I must… find better targets. Perhaps I will find some worthy prey among these fleshy ones yet. The game has only just begun!