Despite near annual highs of the 30-year average mortgage rate, home-purchase application activity had been holding steady or even modestly increasing in recent weeks, attributed to the rise in home inventory. That trajectory flipped this week with a dip in mortgage applications as rates hit another record high since last August. The latest Market Composite…
Up and down, up and down. Like a yo-yo dieter’s weight, consumer confidence in the U.S. seems to maintain a consistent pattern. It rose in June when tensions in the Middle East seemed to abate, following a dip in May, likely due to the war with Iran heating up. A ceasefire this past April had…
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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%,…
Housing has spent 2026 running in place, and Zonda Chief Economist Ali Wolf doesn’t expect the picture to change much before 2027. Wolf delivered the national portion of Zonda’s third quarter housing market forecast webinar on Tuesday, saying that existing- and new-home sales are tracking essentially flat with 2025, with the firm now calling 2026…
Economists touted regional improvements to housing inventory for the increase in home-purchase application activity this week but cautioned the uptick will likely be short-lived with oil prices rising as a result of the ongoing conflict in the Middle East. The latest Market Composite Index from the Mortgage Bankers Association (MBA)—its measure of mortgage loan activity…
As 2026 moves forward amid rising inflation and a fairly soft labor market, are leading indicators pointing to a better near-term economy? The nonprofit research firm The Conference Board’s latest monthly Leading Economic Indicators report found a slight decline as the Board’s Leading Economic Index hit 99.1 in June, a 0.2% downturn compared to the…
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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Mixed signals continue coming from the U.S. housing market, as the Mortgage Bankers Association (MBA) reported this week that home-purchase applications decreased for a second week while refinances increased, even as rates hit their highest point since August of last year. The latest Market Composite Index from the MBA—its measure of mortgage loan activity volume…
Across the first half of 2026, numerous economic reports revealed high or rising inflation. Some officials of the Federal Reserve, which remains focused on bringing inflation down, have suggested that interest rate hikes could be necessary if inflation does not fall. The latest data from the Consumer Price Index (CPI), maintained by the U.S. Bureau…
Editor’s note: Econ Review is a roundup of the housing and economic market data reports released during the month. As we move into summer and prepare to see the compounded data of the first half of 2026, the picture the housing market and economy paint is that of continued complications. While some indicators remain better…
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