The Iran War continues to weigh on the economy, and in turn the housing market, with mortgage rates this week peaking to “the highest level since May 2024,” as noted by Mortgage Bankers Association President and CEO Bob Broeksmit. According to Freddie Mac’s latest Primary Mortgage Market Survey, the 30-year fixed-rate mortgage (FRM) averaged 7.03%…
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…
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…
Buyers who are waiting for rates to come down before making their home purchase will likely have to wait until next year for that to happen, according to economists commenting on this week’s mortgage data. Mortgage rates changed little from last week, with the latest Freddie Mac Primary Mortgage Market Survey® showing the 30-year fixed-rate…
While mortgage rates and applications changed little last week, home-purchase applications retreated and were lower than last year’s pace, signaling to economists that continuing affordability challenges and economic uncertainty remain in place for price-sensitive buyers. The latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure of mortgage loan activity volume and includes purchases…
Not so very long ago when people decided they were ready to become homeowners, most didn’t even think to consider a condo. The American Dream was a standalone house. It still is, but with limited inventory in many places and elevated mortgage rates and prices, suddenly a less expensive condo is more logical and achievable…
Mortgage rates remained relatively steady from last week, but an increase in home-purchase application activity after multiple weeks of decreases shows that homebuyers are getting accustomed to the current environment and responding to even slight rate decreases. This week, the average 30-year fixed mortgage rate (FRM) decreased two basis points to 6.67%, down from 6.69%…
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