"Rising Mortgage Demand Defies Interest Rate Hikes"

Despite a slight increase in mortgage rates, the demand for home-purchase applications rose by 3.7% last week, while applications for refinancing fell by 7%. The housing market continues to show resilience at the start of the year, with a significant decrease in available home supply. Economists believe that the Federal Reserve's decision to halt interest rate hikes has helped to alleviate the impact of high mortgage rates, which have dampened consumer demand and limited inventory.