While mortgage rates continue to tick up amid continued economic uncertainty, economists note the spring market is proving more resilient than expected, mainly due to rates remaining much lower than a year ago at this time. The average mortgage rate increased 2 basis points to 6.53%, up from 6.51% last week, according to the latest…
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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…
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…
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…
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…
Nonprofit business research organization The Conference Board released its latest Leading Economic Index (LEI)—which provides an early indication of significant turning points in the business cycle and where the economy is heading—showing a decline of 0.6% in March 2026, more than reversing its 0.3% increase in February. Overall, the LEI fell by 1.0% over the…
Mortgage rates bumped back up this week but overall remain in the low 6% range, contributing to a subdued but steady spring market, according to economists. The average mortgage rate ticked increased 7 basis points to 6.30%, up from 6.23% last week, and back to the same point from two weeks ago, according to the…
Mortgage applications decreased this week but economists say homebuying sentiment has improved over this time last year thanks to an increase in homes on the market. 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 1.6% on a seasonally adjusted…
Mortgage rates have reached their lowest point since mid-March but economists worry inflation and economic uncertainty caused by tensions in the Middle East will result in temporary decreases versus more sustained stability. The average mortgage rate ticked down 7 basis points to 6.23%, down from 6.30% last week, according to the latest Primary Mortgage Market…
Despite ongoing geopolitical uncertainty, recent mortgage rate declines have boosted mortgage application activity for a second week in a row. 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—increased 7.9% on a seasonally adjusted basis from last week’s 1.8% increase,…
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