article thumbnail

Elevated mortgage rates aren’t discouraging homebuyers

Housing Wire

Right now we have elevated mortgage rates , trade war uncertainty , rising property taxes and home insurance, terrible consumer confidence data and a downgrade of the government’s debt, among other factors. Typically, mortgage rates around 6% are necessary for significant growth in the housing market.

Mortgages 523
article thumbnail

Lower mortgage rates are spurring housing demand

Housing Wire

Mortgage rates recently hit a year-to-date low, coinciding with ongoing market disruptions from tariffs. In fact, if mortgage rates head toward 6%, we will have a positive year here. Last year, we saw mortgage rates increase from 6.63% to about 7.50%, leading to challenges in the purchase application data.

Mortgages 533
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How are mortgage rates affecting housing demand?

Housing Wire

It has been almost two months since mortgage rates spiked again, and my initial thought was this would tank housing demand. We had a positive 18-week period with purchase applications before mortgage rates started rising in September. Initially, the data showed more robust performance as mortgage rates approached 6%.

Mortgages 509
article thumbnail

Better mortgage spreads boost housing demand in 2025

Housing Wire

One of the lesser known storylines in housing economics is that the improvement in mortgage spreads since 2023 has contributed to a noticeable trend in purchase application data for 2025, which is now showing 15 consecutive weeks of positive year-over-year growth. A historical review of these spreads shows that they are currently elevated.

Mortgages 507
article thumbnail

The Real Estate Pulse: Analyzing the 2022 Housing Market

Speaker: Grier Allen, CEO and Co-Founder of BoomTown

And while the seller’s market continues to shape 2022, real estate experts predict significant changes in inventory, mortgage rates, home prices, and buyer’s checklists. For real estate professionals, 2021 was an iconic year. It can be difficult to navigate these constant shifts.

article thumbnail

Lower mortgage rates spark housing demand heading into spring

Housing Wire

Earlier this year, when mortgage rates soared to 7.26%, a cloud of worry hung over the housing market many feared that home sales would tumble in 2025, fueled by concerns about inflation and tariffs. But when it seemed doom and gloom would prevail, the 10-year yield dropped, pulling mortgage rates lower in a lovely slow dance.

Mortgages 537
article thumbnail

Mortgage rates jump to 7% as Powell demurs on quick rate cuts

Housing Wire

The statement was enough to raise mortgage rates to an even higher level, a sharp departure from the optimism lenders experienced during the September rally, which now seems like a distant memory. “We At Mortgage News Daily , rates were at 7.02% on Thursday afternoon. We are moving policy over time to a more neutral setting.

Mortgages 530