Mortgage rates remained relatively steady from last week, but an increase in home-purchase application activity after multiple weeks of decreases shows that homebuyers are getting accustomed to the current environment and responding to even slight rate decreases. This week, the average 30-year fixed mortgage rate (FRM) decreased two basis points to 6.67%, down from 6.69%…
While mortgage rates remain elevated, a slight retreat this past week drove home-purchase application activity up for the first time in several weeks. The latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure of mortgage loan activity volume and includes purchases and refinances—shows mortgage application activity increasing this week 3.6% on a seasonally…
The private listing debate quickly got messy within the industry. Real estate rivals suddenly couldn’t agree even on the definition of “private,” and the disputes have often become technical and insular—seller choice versus transparency, monopolies and conspiracies, the Wall Street boogeyman and the out-of-touch incumbents. But as brokerage and MLS leaders updated policies and focused…
Monthly home sales slowed their descent but continued a downward trajectory, as reported by the National Association of Realtors® (NAR) Tuesday. Between June and July, existing-home sales decreased 1.7%, bringing the seasonally adjusted annual rate from 4.09 million to 4.06 million. Despite the drop month-over-month, NAR Chief Economist Lawrence Yun highlighted the stabilization of the…
Mortgage rates continued their upward march, coming in above year-ago levels for the first time in 44 weeks, but economists are pointing to improving trends in housing inventory and list prices as a silver lining for buyers. The average 30-year fixed mortgage rate (FRM) rose three basis points this week to 6.69%, up from 6.66%…
Those shopping for a home or a refinance for a lower rate appear to be moving back to the sidelines this past week, as application activity for both has declined for a second consecutive week following mortgage rates rising to their highest point in more than a year. The latest Market Composite Index from the…
The post Home Shoppers Pull Back as Rates Hit Highest Point in Over a Year appeared first on RISMedia.
As homebuyers continue to struggle through the 2026 housing market amid affordability issues, rising mortgage rates and ongoing economic uncertainty, one of the nation’s mega banks is stepping in with a major long-term investment into the housing market. JPMorgan Chase announced Aug. 3 that the firm intends to invest over $750 billion through 2035 with…
The latest home price and affordability data report from the National Association of Realtors® (NAR) released Aug. 4 shows more than 80% of metro markets (176 out of 221) saw home-price increases in the second quarter of 2026, an increase from 71% in the first quarter, while 5% of metro areas recorded double-digit price gains,…
The continued summer slowdown in the housing market could see an uptick in transactions before fall, but economists are pointing to an array of economic and geopolitical headwinds that could possibly drive mortgage rates even higher as the spark. The average 30-year fixed mortgage rate (FRM) rose another 8 basis points this week to 6.66%,…
Despite near annual highs of the 30-year average mortgage rate, home-purchase application activity had been holding steady or even modestly increasing in recent weeks, attributed to the rise in home inventory. That trajectory flipped this week with a dip in mortgage applications as rates hit another record high since last August. The latest Market Composite…
| Older Posts |