Housing Notes

It was a busy week in mortgage and housing news, and here are a few of the news items that didn’t quite make it into The Mortgage Note: GROWTH MODE: Redfin’s homebuying demand moved out of recovery mode and into growth mode, reaching a new peak. For the seven days ended May 17, demand was 16.5% higher than it was before the pandemic, on a seasonally-adjusted basis, according to Redfin’s latest weekly report. COMPETITION: Another Redfin report found 41.1 percent of Redfin offers nationwide faced competition in the four weeks ending on May 10. In a handful of metros, the bidding war rate was above 60 percent. AFFORDABLE SUPPLY: Record low interest rates have made buying a home more affordable this year, but only two of…