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…
The real estate industry is viewing 2026 with hearts full of hope. After a challenging few years since the pandemic, the housing market is due for a rebirth. Economists’ predictions across the board have shown a better future on the horizon, and Bright MLS Chief Economist Lisa Sturtevant is one of them. In her opinion,…
With the spring homebuying season approaching, lower mortgage rates are a welcome development for households looking to buy a home. That’s the sentiment of some industry mortgage watchers as rates have hit recent record lows and applications for home purchases have seen solid increases over the past two weeks. The latest Primary Mortgage Market Survey®…
The last two weeks of mortgage application metrics have shown sizable increases. According to the latest Mortgage Bankers Association (MBA) report, the Market Composite Index—the measure of mortgage loan activity volume—increased 14.1% from one week earlier on a seasonally adjusted basis for the week ending Jan. 16, following last week’s notable 28.5% increase for the…
In the keynote presentation to open RISMedia’s recent Real Estate’s Rocking in the New Year virtual event, Brian Buffini, chairman and founder of Buffini & Company, expressed the strong view that while a turnaround to good times is in store for the 2026 residential real estate market, brokers and agents must nevertheless be totally committed…
As mortgage rates have hit their lowest level in over three years, expectations of reaching a more affordable market in 2026 have grown dramatically. On this optimistic track, a new Zillow analysis states that mortgage payments should be affordable by year’s end for several major markets, the most since 2022. In the case of the…
In a positive sign for the first month of 2026, mortgage rates continued to improve this week, falling to the lowest level seen in over three years. According to the latest Primary Mortgage Market Survey from Freddie Mac, the 30-year fixed rate mortgage (FRM) averaged 6.06%, down from last week’s average of 6.16% and from…
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Beating the expectations of a typical quiet winter season for the housing market, mortgage applications shot up by a whopping 28.5% from one week earlier, according to the latest data from the Mortgage Bankers Association’s (MBA). The MBA’s latest Weekly Mortgage Applications Survey found that the Market Composite Index—a measure of mortgage loan application volume—grew…
Americans from all walks of life are feeling heightened anxiety about their finances — and that could dampen the housing market’s recovery, according to a new survey from Bright MLS. The survey of more than 3,300 adults found that a majority of Americans are worried about money across the board. However, this concern is felt…
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