It’s interesting to see people reposting this story, “Mortgage demand surges!”

Talk about abusing statistics. This headline is based on mortgage applications which is a week-over-week statistic. Meaning, a huge increase in this as a percentage could simply mean the demand was low the prior week.

Also, let’s go back and look at what mortgage demand typically does right after the new year – https://jeremywhittaker.com/plots/indicators/united-states/united-states_mortgage-applications.html

January 13th, 2023 up 27.9%

January 8th, 2021 up 16.7%

January 10th, 2020 up 30.2%

January 4th, 2019 up 23.5%

So mortgage demand for this time of year is significantly down from its historical norm(not to be mistaken for anything statistically significant).