Mortgage rates held steady this week, remaining unchanged from last week but still lingering at a near three-year high–a level one economist says is having a “chilling effect” on the housing market. The latest Freddie Mac Primary Mortgage Market Survey® released Thursday shows the average 30-year fixed-rate mortgage rate remaining at 7.40%, the same level…
As mortgage rates for traditional 30-year fixed-rate loans reached a near three-year high last week, buyers are increasingly turning to adjustable-rate mortgage (ARM) applications to reduce their monthly costs. Economists have watched the ARM share of overall applications climb to one-year high of 10.5% in recent weeks, driven by introductory rates that sit almost a…
Borrowers looking to purchase or refinance their homes continue to sit on the sidelines, hesitant to make a move as mortgage rates sailed past the seven-percent mark and arrived at their highest level in almost three years–at one point hitting 7.49% last week. The latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure…
WASHINGTON, D.C.—Housing has been on a rollercoaster ride in the last two years, and 2027 is shaping up to be more of the same. Even though real estate has certainly seen its down cycles, this time is different, a leading economist told real estate executives last Friday at RISMedia’s 38th Annual CEO & Leadership Exchange.…
Mortgage rates continue to climb, this week reaching their highest point since January 2025, and leaving buyers with an uphill battle at a time when the summer lull typically retreats. And, with a swath of housing indicators–existing home sales, pending home sales, home purchase applications–hitting recent lows or reaching negative territory along with no sign…
U.S. housing starts dipped in August, though single-family construction was up, while building permits and completions both declined, according to the U.S. Census Bureau and Department of Housing and Urban Development in its latest report on residential construction. Privately owned housing units authorized by building permits in August were at a seasonally adjusted annual rate…
Homebuyers and owners looking to refinance pushed the pause button again this week as rates soared over 7%, a move economists attribute to ongoing economic uncertainty and geopolitical forces, namely the continuing conflict in the Middle East. The latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure of mortgage loan activity volume and…
Mortgage rates ticked up again this week, seemingly caught in an ongoing cycle of upward pressure as renewed tensions in the Middle East drive oil prices higher, stoke inflation concerns and push Treasury yields up, bringing mortgage rates along with them. This past week, rates reached a 14-month high at 6.76% for the average 30-year…
As U.S. homebuyers continue to navigate a bittersweet housing market–one where inventory is becoming more balanced in many markets but prices and mortgage rates remain elevated–home purchase application activity pulled back this past week as rates hit their highest point since June 2025. The latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure…
In the-real-estate-market-that-could, home-purchase applications ticked up this past week as increased inventory in many markets seems to be buoying transaction volume, despite weekly ups and downs in activity and rates sustained at elevated levels. The latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure of mortgage loan activity volume and includes purchases and…
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