Overview
- The average 30-year fixed mortgage rate was 6.24% this week, essentially flat from 6.22% and below 6.78% a year ago, according to Freddie Mac.
- Mortgage purchase applications rose about 6% to the strongest pace since September, while refinance activity fell 3% week over week, MBA data show.
- FHFA Director Bill Pulte said the agency is actively evaluating portable mortgages and considering broader assumability and a 50-year option, with no design details yet.
- Economists warn portability could disrupt mortgage‑backed securities by changing prepayment dynamics, potentially increasing investor risk and borrowing costs.
- Agency backlogs from the 43-day federal shutdown may delay transactions, and rates could turn more volatile as postponed economic data return.