In the ever-going search for affordability in the market, new research identifies that while prices may be higher on newly built homes, they cost less in the long run for homebuyers than existing homes. Realtor.com®’s new report on the total cost of homeownership found that homebuyers purchasing newly built homes can save $25,335 on average…
Mortgage rates ticked down slightly this week despite inflation concerns rising after this week’s CPI report. The average mortgage rate decreased 1 basis point to 6.36% down from 6.37% last week, according to the latest Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday. Bright MLS Chief Economist Lisa Sturtevant said mortgage rates may…
We are now five months into 2026—rapidly approaching the halfway point—and so far the year has thrown some definite curveballs at the real estate industry. This year was widely expected to be a year of stabilization and normalization for the housing market, and Q1 (January-March) is largely the stage-setter for how the rest of the…
Despite average mortgage rates increasing this past week, potential homebuyers were active in the market, a sign that they may be getting used to the current economic environment, according to the Mortgage Bankers Association (MBA). According to the latest Market Composite Index from the MBA—its measure of mortgage loan activity volume and includes purchases and…
The United States added 115,000 jobs in April, according to the Bureau of Labor Statistics, significantly beating analysts’ expectations as employers continue to shrug off high energy costs and geopolitical uncertainty—something buyers and sellers have been less willing to do. With an unemployment rate now at 4.3% and an average 48,000 payrolls added per month…
Freddie Mac reported today that mortgage rates increased this week, still being driven by geopolitical tensions and sticky inflation, according to economists. The average mortgage rate increased 7 basis points to 6.37%, up from 6.30%, last week, according to the latest Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday. “The expectation of rates…
Home-price growth continues to depreciate across multiple reports as the latest data from the National Association of Realtors® (NAR) saw improvements to affordability once again in Q1 2026. NAR’s Q1 Metropolitan Median Area Prices and Affordability data found that the national median home price was $404,300, observing only a 0.5% year-over-year increase, compared to 1.2%…
Mortgage applications declined for a second week in a row as economists point to economic uncertainty and geopolitical tensions continuing to weigh on activity and drive mortgage rates up. According to the latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure of mortgage loan activity volume and includes purchases and refinances—decreased 4.4% on…
Editor’s note: Econ Review is a roundup of the month’s housing and economic market data reports. As spring progresses, the industry is awaiting data related to how the season shaped up ahead of another potential boom in activity over the upcoming summer. Here are some highlights from the housing and economic data that hit the…
The worry heading into the spring 2026 housing market was that “history would repeat itself” from 2025 and lead into another “cruel summer,” as described by Realtor.com® Chief Economist Danielle Hale. Last year, “tariff-driven uncertainty and recession fears” created headwinds for the market, preventing a spring bloom or summer heat-up from taking place. This year,…
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