Surging “Mortgage Demand” and “Declining Spending,” Really? Let’s Have a Look at Reality

For example, on CNBC this morning, we read: “Mortgage demand climbs to the highest level in five weeks after interest rates move lower. Or on MarketWatch, we read: “U.S. mortgage demand hits five-week high as buyers seize a dip in rates.” This was based on the weekly applications for mortgages to purchase a home...