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…
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…
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…
Forces other than mortgage rates can impact homebuying activity, and this past week was a good example of that, as experts surmised that a big winter storm hitting a large portion of the country likely prevented people from applying for a mortgage. According to the latest Mortgage Bankers Association (MBA) report, the Market Composite Index—the…
Despite signs of housing market normalization on the horizon, many consumers still feel constrained by affordability challenges. Consumers report that lower incomes, higher mortgage rates and a lack of supply in the market remain their biggest hurdles to affording a home, according to Bright MLS’s latest consumer survey. The MLS’s latest survey of 3,000 Americans…
Editor’s Note: The Mortgage Mix is RISMedia’s biweekly highlight reel of need-to-know mortgage-industry happenings. Watch for it every other Friday afternoon. – As the 2026 housing market gets underway, mortgage rates have been holding steady at around 6% during the latter half of January. Despite rates reaching near three-year lows, applications decreased during the week…
This week saw a decrease in overall home purchase applications but the average mortgage rate held steady at or around three-year lows. The latest Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday, shows the 30-year fixed-rate mortgage (FRM) averaging 6.10%, a slight increase of 1 basis point from last week’s rate average of…
Lower mortgage rates at the end of 2025 prompted a refinance rush among current homeowners, helping boost prepayment rates to their highest level in three years, according to a new report from ICE Mortgage Technology. The monthly mortgage prepayment rate rose to 0.91% in December, just below the 3.5‑year high set in October, ICE reported…
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