After several sharp spikes and nearly doubling over the last year, mortgage rates took a breather this week, decreasing from 5.81% the previous week to 5.7% this week, according to the latest Primary Mortgage Market Survey (PMMS) from Freddie Mac, released Thursday. Key findings: 30-year fixed-rate

“Comparing anything to 2020 or 2021, it doesn’t make any sense.” That is the conundrum—summed up frankly by Anne Marie DeCatsye, CEO of the Canopy REALTOR® Association in Charlotte, North Carolina—for anyone trying to parse out the current real estate market. As economists and practitioners all acro

As home prices have shown no signs of slowing through the first half of this year, researchers who have been tracking so-called “overvalued” housing markets since 2020 are warning some metros have become “a risky bet” as their methodology shows a dangerous disconnect between historical trends and cu

Mortgage applications decreased 2.3% from one week earlier, according to the latest Weekly Mortgage Applications Survey from the Mortgage Bankers Association’s (MBA), released Thursday. The drop marks the third straight week of declines, indicating that market headwinds continue to hinder both refin

In a sign that the housing market is now slowing, builder confidence took a steep drop in May, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI), released this week. Builder confidence in the market for newly built single-family homes fell ei