Overview

• The average 30-year fixed mortgage rate fell to 6.65%, reversing a two-week rise, according to Freddie Mac's latest data.
• Mortgage demand from homebuyers has reached its highest level in nearly two months, bolstered by a 6% increase in FHA loan applications.
• Bank of America reported an 80% increase in mortgage applications in Q1 2025, driven by rising home inventory and lower long-term bond yields.
• Refinance activity remains weak, with applications dropping 5% last week, reflecting limited opportunities due to elevated rates compared to historical lows.
• The Federal Reserve's decision to hold rates steady and stable 10-year Treasury yields continue to support overall market stability.