Mixed signals continue coming from the U.S. housing market, as the Mortgage Bankers Association (MBA) reported this week that home-purchase applications decreased for a second week while refinances increased, even as rates hit their highest point since August of last year. The latest Market Composite Index from the MBA—its measure of mortgage loan activity volume…
Home prices picked up the pace in May, indicating buyers in some areas are able to move past elevated mortgage rates, while further widening the affordability gap that continues to divide buyers across the nation, according to the latest data. Cotality’s latest Home Price Index, released this past week, found that home price growth increased…
The average 30-year-fixed mortgage rate dropped to its lowest level in seven weeks, but is still hovering in the mid-6% range, indicating to economists that buyers–mainly in the higher-income bracket–are coming to terms with this rate environment as the new normal. The average 30-year fixed mortgage rate decreased 6 basis points to 6.43% from 6.49%…
The Mortgage Bankers Association is attributing an increase in home-purchase applications this week to mortgage rates edging down slightly following a decline in oil prices and easing tensions in the Middle East. The latest Market Composite Index from the MBA—its measure of mortgage loan activity volume and includes purchases and refinances—shows mortgage application activity increasing…
As pending sales and existing home sales showed modest improvement in May, economists say despite mortgage rates remaining around 6.5%, homebuyers seem to be adapting to the current environment. The average 30-year fixed mortgage rate increased 2 basis points to 6.49% from 6.47% last week, according to the latest Primary Mortgage Market Survey® (PMMS®), released…
Mortgage rates remain elevated but application volume remains higher than last year at this time, according to the latest data from the Mortgage Bankers Association (MBA). The latest Market Composite Index from the MBA—its measure of mortgage loan activity volume and includes purchases and refinances—shows little change in application activity this week, increasing 1.0% on…
Chocolate brown is back, and this time, it could add approximately $2,277 to a home’s offer price, according to Zillow’s 2026 Paint Color Analysis. The study found that buyers are increasingly drawn to warm, inviting colors, which increasingly outperform traditional all-white walls in key living spaces. “White will always be a timeless, versatile choice, but…
Mortgage rates lowered this week following a ceasefire agreement with Iran, a trend economists say may be more promising in light of a signed agreement by President Trump. The average 30-year fixed mortgage rate decreased to 6.47% from 6.52% last week, according to the latest Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday.…
Nonprofit research organization The Conference Board’s Leading Economic Index (LEI) for the U.S.—which provides an early indication of significant turning points in the business cycle and where the economy is heading—increased slightly by 0.1% in May to 99.3, following a 0.2% increase in April, with plenty of uncertainty still around the future. After these two…
The Mortgage Bankers Association is pointing to a combination of economic and geopolitical forces ultimately netting a decrease in mortgage application activity this week. The latest Market Composite Index from the MBA—its measure of mortgage loan activity volume and includes purchases and refinances—shows application activity decreasing 3.8% on a seasonally adjusted basis from a jump…
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