As inventory challenges persist in some markets and have improved in others, economists generally point to a Spring market with increased buyers, provided average mortgage rates remain at their recent years-long lows. The latest Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday, shows the 30-year fixed-rate mortgage (FRM) averaging 6.01%, down from 6.09%…
Steady rates remaining in the low 6% range continue fueling refinance demand, rising the tide for a small increase this week in overall mortgage applications, as tracked by the Mortgage Bankers Association (MBA). According to the latest Market Composite Index—MBA’s measure of mortgage loan activity volume and includes purchases and refinances—increased 2.8% on a seasonally…
On the heels of a dismal January existing home sales report, mortgage rates holding steady around 6% for weeks brings brighter news in the form of increased confidence for some home shoppers who’ve been sitting on the sidelines, experts say, although affordability still remains a challenge. The latest Primary Mortgage Market Survey® (PMMS®), released by…
Slow inventory recovery, coupled with major snowstorms across half of the country, put a massive halt on existing-home sales in January, according to the latest data from the National Association of Realtors® (NAR). NAR’s Existing-Homes Sales report for January found that sales fell 8.4% to a rate of 3.91 million, a large reversal from last…
Even though 2026 is looking brighter, affordability—not just in homebuying but in homeownership—continues to face challenges as the market works to normalize. For homeowners specifically, the costs of owning a home continue to add pressure as the latest data from ATTOM saw foreclosure activity remain high year-over-year. ATTOM’s Foreclosure Market Report for January found that…
Applications for home loans remained essentially flat this week, declining slightly along with the refinance share of total mortgage activity, while experts note an uptick in government-backed loan applications is an indicator of ongoing affordability challenges. According to the latest Mortgage Bankers Association (MBA) report, the Market Composite Index—the measure of mortgage loan activity volume…
Early January declines in mortgage rates unlocked refinance opportunities for nearly five million borrowers and helped push affordability to a four-year high, according to the February Mortgage Monitor released Feb. 9 by ICE Mortgage Technology, a provider of an end-to-end mortgage platform. According to the analysis, “Even small reductions toward 6% rates can significantly boost…
Along with low interest rates and the infusion of money from federal stimulus, one of the factors that drove the pandemic boom market was a surge in so-called “housing mobility,” meaning the overall propensity of people to pick up and move. That metric rose to its highest level in almost 20 years back in 2021,…
Housing market watchers say improving home affordability and inventory levels are short-term positives for home shoppers, but caution that the maintaining the independence of the Federal Reserve and tracking broader economic conditions like consumer confidence and economic uncertainty, will help predict where the housing market is heading in the year ahead. The latest Primary Mortgage…
A new January market report shows home values have fallen on a monthly basis for six consecutive months and monthly mortgage payments on a typical home are now 8.4% less expensive than a year ago, driven down primarily by lower mortgage rates. The data comes from the latest Zillow® Home Value Index released Feb. 4…
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