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Australia to Ban Foreign Investors from Buying Existing Homes to Boost Housing Supply 
The United States mortgage rates have gone down in the past despite rising demand for home loans. Mortgage rates are at a historic low of 2.69 pct for a 15-year fixed rate loan, the lowest since the WWII. Mortgage applications for new home purchases have risen by 80 pct over the past five quarters, a 64 pct annualized rate of growth.
"Unless the lion’s share of them is being rejected, the outlook for sales and starts has to be good," DBS said in a research note.
New home sales have been trending north at a 12 pct annualized pace but in a stop-start fashion. Further, this trend is also being noticed for housing starts, which is due today.
Markets expect only a 3 pct rise in April, which wouldn’t offset much of the 8 pct drop in March. Mortgage applications reveal that markets are too conservative.
