Mortgage Rates Archives - Morris Invest

Mortgage Applications and Pending Home Sales Plunge as Housing Supply Rises

13-J0000006-1999 | Affordable Housing Crisis, Housing Market, Mortgage Rates

As the spring housing season wraps up this month, a great number of prospective buyers and sellers are held back as both pending home sales and mortgage applications continue on a downward trend. For buyers, high property prices, continually elevated mortgage rates,...

Housing Market Struggles as Mortgage Rates Reach Highest Level in Three Months

13-J0000005-1999 | Housing Market, Mortgage Rates

The spring season, known for being the busiest time of the year for home purchases, just took another hit as mortgage rates rose to a three-month high this week. According to Freddie Mac, the average rate on a 30-year fixed mortgage reached 6.86% as of May 22nd, which...

Mortgage Rate Dip Overshadowed by Economic Volatility Keeps Homebuyers on the Sidelines

13-J0000005-1999 | Affordable Housing Crisis, Economic Indicators, Housing Market, Mortgage Rates

Mortgage rates dipped this week, according to Freddie Mac, with the average rate on a 30-year fixed home loan landing at 6.76%, down from 6.81% the previous week. This may seem like a hopeful move in the right direction, but homebuyers and sellers are not taking the...

March Home Sales Fell 5.9% – Largest Decline in Over Two Years

13-J0000004-1999 | Home Affordability Crisis, Housing Market, Mortgage Rates

The housing market faced a challenging start to the critical spring season as many potential buyers sat on the sidelines, waiting out economic uncertainty. Because of this, existing home sales fell in March, resulting in the steepest monthly drop since 2022, which...

After Seven-Week Decline Mortgage Rates Increase Amid Fear of Economic Instability

13-J0000003-1999 | Housing Market, Mortgage Rates

Breaking a seven-week trend, average 30-year mortgage rates have ticked upward, settling at 6.65% for the week ending March 13, as reported by Freddie Mac. This represents a small increase from the previous week’s 6.63% and is still lower than the 6.74% average...

Mortgage Rates Dip to Lowest Level of 2025 as Spring Homebuying Season Inches Closer

13-J0000002-1999 | Housing Market, Mortgage Rates

For a fourth straight week, mortgage rates dipped slightly to 6.87% on a 30-year fixed-rate mortgage. Weaker-than-expected retail sales data drove the 10-year Treasury yield lower, which may be responsible for this push below 7%. The rate drop has given prospective...