Mortgage applications for new home purchases fell 2.4% year-over-year and 10% from March 2026, with new single-family home sales estimated at a seasonally adjusted annual rate of 655,000 units, down 8.6% from March. Conventional loans made up 49.5% of applications, FHA 35.7%, VA 13.7%, and USDA 1.1%. The average loan size decreased to $378,384. High unsold inventory and economic uncertainty contributed...
Low-6% rates are still described as strong, while near 6% may carry added psychological weight for borrowers watching affordability and timing decisions closely. One industry forecast keeps the 30-yr fixed mortgage in the low-6% range through the rest of 2026, suggesting steadier planning conditions for buyers. A builder-focused forecast is more optimistic,...
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...
Purchase mortgage applications ↑4% from the prior period and ↑7% yearly, showing buyers re-engaging despite higher borrowing costs across major loan types. Total mortgage application volume ↑~2% for the May 8 period, while 30-yr fixed rates reached the mid-6% range, their highest recent reading. Context matters: the buyer rebound followed a softer spring...
Thirty-year fixed mortgage rates are expected to remain around 6.2% to 6.5% between May and July 2026, with most forecasts calling for only minor fluctuations Fifteen-year fixed mortgage rates are projected to average around 5.7% to 6.0%, continuing to offer lower borrowing costs than standard long-term loans The ten-year Treasury yield remains near 4.3% to 4.4%,...
House price momentum has cooled, creating a steadier national backdrop where buyers can compare local conditions before choosing timing or negotiating strategy. Mortgage costs remained elevated, but a move near ~6% offered rare relief for rate-weary borrowers and supported hopes for stronger spring activity. Starter-home shortages still supported yearly price...
New-home purchase applications in Late-Q1 ↑26% MoM and ↑11% yearly, reaching the survey’s highest index level since it began in 2012. Estimated new single-family sales ran at a seasonally adjusted annual pace of 717K in Late-Q1, ↑12% from 641K in the prior month. On an unadjusted basis, estimated new-home sales reached 69K in Late-Q1, ↑21% from 57K in...
Slide 1 Ultra-low mortgage rates below 3% during 2020–2022 created today’s housing market lock-in effect. Slide 2 Homeowners keep ultra-low loans because moving means paying much higher mortgage rates today. Slide 3 This lock-in helped push existing home sales nearly 25% below 2019 levels. Slide 4 Mortgages under 4% still represent about half of...
Fannie Mae forecasts 30-year mortgage rates falling to 5.7% by Q4 2026, down from ~6.0% in early 2026. National Association of Realtors expects home sales to rise about 14% in 2026 as lower rates bring buyers back. Single-family housing starts projected to drop 6.2% year-over-year through the first three quarters of 2026, limiting supply. Construction expected to...
Mortgage purchase applications have dropped 35% since 2019, with the housing market frozen amid rising mortgage rates, now averaging 6.43% for 30-year fixed loans. Home resales have fallen 23% annually since 2019, while housing supply has surged to multi-year highs. Refinancing applications spike briefly when rates dip but remain low overall due to upfront costs and breakeven considerations, indicating...
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