The average mortgage rate remaining at or around the low 6% range continues to spur buyer activity, but economists warn it may not be enough to create a much-needed market shift in the face of ongoing economic uncertainty and wartime market volatility. The average mortgage rate ticked up 11 basis points to 6.11% this week,…
After a brief dip into the fives, mortgage rates ticked back up this week and will likely continue to rise if the conflict with Iran escalates into a prolonged war, economists cautioned this week. “The launch of the conflict in Iran over the weekend and its subsequent escalation has stoked fears of wartime inflation that…
Just in time for the spring buying season, average mortgage rates crossed “into the fives,” this past week, their lowest level in years, and one economists describe as a “psychological barrier and numeric threshold” that could bring more buyers into the market despite concerns over the economy. The latest Primary Mortgage Market Survey® (PMMS®), released…
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%…
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…
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…
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…
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®…
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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With little change in the average mortgage rate expected over the coming weeks, home shoppers are seeing some positive signs as the market moves toward the traditional busy buying season. The latest Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday, shows the 30-year fixed-rate mortgage (FRM) averaging 6.16%, a one-basis-point increase from last…
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