Current State of the Housing Market

This is a market overview for mid-August.

Refinance activity has all but vanished, and purchase activity is down significantly year-over-year (YoY). See: Homebuyers Hit Brakes in July, Sellers Hold Back

This has led to significant layoffs in the mortgage industry. For example, LoanDepot has reduced staff by 35% this year, with further layoffs planned:

"We…