Current Market Data

Mortgage interest rates for the week sit at an average of 7.17%, and may show little dramatic downward movement any time soon.

Housing affordability fell nationally in February 2024, the monthly mortgage payment decreased 3%, and the median single-family home price fell 1.5%.

Mortgage interest rates rose to 7.1% this week; despite higher mortgage rates, mortgage applications increased.

Yesterday's inflation figures rose to 3.5%, and as a result, mortgage interest rates are likely to increase in the coming weeks.

March inflation figures were very bad, which also means bad news for interest rates.

The job market is strong, with 303,000 net payroll job additions in March; 39,000 net new jobs in construction means more housing supply is coming.

Mortgage interest rates continue their now 17-week stay in the mid-6% range, with the current 30-year mortgage interest rate at 6.82%.

Mortgage interest rates have continued in the mid-6% range for 16 weeks, with the 30-year fixed rate down slightly to 6.79% from 6.8% the week prior.

In February 2024, pending home sales rose 1.6% month over month and decreased 7% year over year.

Housing market activity declined 4.3% in March 2024, reaching a 4.19 million seasonally adjusted annual rate, down 3.7% from March 2023.