Overview

• The average rate for a 30-year fixed mortgage has declined to 6.62%, marking the third straight week of modest easing, according to Freddie Mac.
• Mortgage applications have surged, increasing by 20% last week, the highest jump since September, signaling renewed buyer interest.
• Economic uncertainties, including trade tensions and volatile Treasury yields, continue to exert upward pressure on rates, keeping them between 6% and 7%.
• Housing inventory is expanding as more sellers list properties, potentially shifting negotiating power to buyers despite affordability concerns.
• Experts, including Barbara Corcoran, caution buyers against waiting for significant rate drops, as rates are expected to hover around 6.3%-6.5% for 2025.