The average 30-year U.S. mortgage rate rose to 6.51%, its highest in nearly nine months, driven by factors like the Iran conflict and rising oil prices. The 15-year fixed rate also increased to 5.85%. Higher rates reduce buyers' purchasing power, slowing home sales and mortgage applications. Adjustable-rate mortgages gained popularity as home prices and listings improve in some regions, offering opportunities despite rising costs.
Mid-sized metros are adding luxury depth as seven-figure listings expand beyond traditional coastal anchors in NY and California nationwide for high-end buyers. Entry-level luxury nationally
Housing starts fell 2.8% in April after a 12% rise in March, keeping activity near recent highs. The combined March-April performance was the best two-month
Across 50 major metros, median listed rents ↓~2% yearly in Early-Q2, marking 33 consecutive mo of yearly rent easing for renters watching budgets. A construction
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