Overview

• New 30-year purchase rates held steady at 6.86% after fully reversing a recent three-day uptick.
• Average 30-year refinance rates dipped two basis points to 6.99%, slipping back below the 7% mark.
• Freddie Mac’s weekly survey reported the 30-year fixed rate average at 6.72%, down from 6.74% the previous week.
• State-level purchase rates range from as low as 6.75% in New York and New Jersey to highs above 6.90% in Alaska, Washington, D.C. and Kansas.
• Analysts estimate rates would need to fall to around 4.43% to restore affordability for typical buyers, an unlikely shift that keeps many homeowners locked into lower-rate loans and limits new listings.