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The report gives loan officers a timely borrower talking point: affordability is tight, but demand has not disappeared.
HousingWire reported on Aug. 1 that the housing market showed more activity than many would expect with rates under pressure. According to the supplied summary, the 10-year Treasury yield hit 4.74% last week, weekly pending home sales rose to 69,109, and housing inventory increased to 872,932.
For mortgage professionals, the point is practical: higher rates are still a real affordability headwind, but they did not stop buyers from signing contracts in the reported week. That combination of rising pending sales and rising inventory gives loan officers a better borrower conversation than the usual “rates are high, so everyone is waiting” script.