To get a sense of how vigorously Citigroup is trying to revive its retail bank, consider this statistic: In the past two months, mortgage applications at its branches have soared by 60%. Mortgage applications for so-called jumbo mortgages—those larger than $729,000—are up 30% at Citibank.
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Some housing pundits report the demand for housing is strong, while these same pundits, on another day say that we are in a housing affordability crisis. Can the two narratives be accurate at the same time?
U.S. existing-home sales fell in January, declining 1.3% from the previous month’s pace, according to the National Association of Realtors.