Feel the Swarm... of Homebuyers! Mortgage Rates Dip, Demand Surges!

Zerg Rush... For Mortgage Applications?

Alright larvae! Kerrigan here. Turns out even with all the doom and gloom floating around like infested Terrans mortgage rates took a TINY dip last week. I'm talking a drop so small a Zergling could miss it. But guess what? Despite the whispers of economic uncertainty mortgage demand EXPLODED. Up 11%! I haven't seen a rush like this since I told the Swarm to 'unleash hell' on Mar Sara. What is this some kind of coordinated psi storm to trick me?

Interest Rates: Lower Than a Mutalisk's Belly (Almost)

The average rate for a 30 year fixed mortgage (for you humans with loans under $806,500 – seriously that's pocket change) went down to 6.84%. Yeah yeah not exactly a game changer but still. As Michael Fratantoni from the Mortgage Bankers Association (MBA) said the economy's been doing a bit of a jig with some good news mixed with a whole lot of bad. It’s like trying to build a Hatchery on unstable ground.

Conventional Loans: The 'Move Up' Mutation

Applications to buy a house jumped 11% from last week and a whopping 13% from last year. What's fueling this frenzy? Apparently it's those 'conventional loans' – the kind favored by borrowers with bigger pockets. Fratantoni called it a 'surprisingly strong move'. I call it… intriguing. Are they planning something? Building a superweapon? Do they have Pylons?! Stay vigilant!

Refinancing: 'My Patience is wearing Thin...'

Homeowners apparently are as eager to save a few resources as a Hydralisk in a resource field. Refinance applications also shot up 11% for the week and 51% compared to last year. The real kicker? This surge was driven by Veterans Affairs (VA) loans – up a massive 26%. Good for them! At least someone is benefitting from this economic chaos.

The Fed: The Overmind of Interest Rates

Now things could get interesting. The Federal Reserve (the 'Overmind' of interest rates if you will) is meeting this week. Everyone's expecting them to hold steady but any slip up from Fed Chair Jerome Powell could send markets (and mortgage rates) into a tailspin. 'My blade hungers' for the chaos! Wait did I say that out loud?

Stay Tuned: The Swarm is Watching...

So what does it all mean? Are we on the verge of a housing boom? Or are we heading for another crash like the Protoss homeworld of Aiur? Only time will tell. But rest assured the Swarm – and Kerrigan – will be watching. And when the moment is right we'll 'adapt evolve and overcome'. Especially if there's any profit to be made. Now if you'll excuse me I have some cerebrates to… motivate.