In recent market developments, mortgage rates have shown a consistent downward trend, contributing to increased affordability for potential homebuyers. This trend is further reinforced by the consecutive weeks of positive purchase application data, marking a significant turnaround in the housing market since mid-March.

Key points:
– Mortgage rates have been decreasing
– Purchase application data has shown positive growth for two consecutive weeks
– This is the first time such trend has been observed since mid-March
– The decline in rates is expected to enhance affordability for homebuyers
– The positive data indicates a promising outlook for the housing market

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