Historic lows for 30-year mortgage rates, combined with pent-up demand from the early spring, led to 14 consecutive weeks of greater mortgage applications compared to 2019, with activity 33% higher for the week ending August 21, 2020. With social distancing changing the way and where people buy homes, in parallel with job losses impacting those who qualify for mortgages, the housing market has seen its fair share of fluctuations.