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…
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…
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…
Mortgage rates remain mostly better historically as this week and last observed some slight decreases, according to the latest data from Freddie Mac. However, the persistence of economic and market headwinds put this silver lining at risk. The latest Freddie Mac Primary Mortgage Market Survey® saw the 30-year fixed-rate mortgage (FRM) average 6.65% as of…
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%…
Mortgage rates continued their upward march, coming in above year-ago levels for the first time in 44 weeks, but economists are pointing to improving trends in housing inventory and list prices as a silver lining for buyers. The average 30-year fixed mortgage rate (FRM) rose three basis points this week to 6.69%, up from 6.66%…
The continued summer slowdown in the housing market could see an uptick in transactions before fall, but economists are pointing to an array of economic and geopolitical headwinds that could possibly drive mortgage rates even higher as the spark. The average 30-year fixed mortgage rate (FRM) rose another 8 basis points this week to 6.66%,…
The typical summer sales slowdown is being made worse, economists say, by renewed geopolitical tension in the Middle East, putting upward pressure on inflation and causing more financial strain for would-be buyers. The average 30-year fixed mortgage rate (FRM) rose 3 basis points to 6.58% from 6.55% last week, and the 15-year FRM averaged 5.96%,…
Economists say renewed doubt about a resolution to the war in Iran kept Treasury yields and thus mortgage rates elevated this past week with the average 30-year hitting its highest point since August of 2025. The average 30-year fixed mortgage rate (FRM) rose 6 basis points to 6.55% from 6.49% last week, and the 15-year…
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