AXIOS (Nathan Bomey) - Mortgage rates approach 3-year high as new applications plunge
Mortgage rates spiked to their highest level in nearly three years, continuing their climb above the 7% threshold. Why it matters: Housing sales were already slow due to a lack of inventory and elevated rates, creating a risk that the market could further its freeze. Zoom in: The weekly average 30-year fixed mortgage rate was 7.28% as of Thursday, Freddie Mac reported . - That's up 0.94 points from a year ago, and up 0.25 points from last week. - Mortgage rates closely track 10-year Treasury yields, which have risen by over 1.25 percentage points since the start of the Iran war in February. The impact: Mortgage applications are plunging. - The Mortgage Bankers Association reported Wednesday that applications during the week ended…
What is the projection from Capital Economics regarding 30-year fixed mortgage rates through 2027?
Capital Economics senior North America economist Thomas Ryan projected that 30-year fixed mortgage rates would average 6.25% by the end of 2027.
Q&A ID 24038e4e-79d9-45c5-9964-555eb422f594
What has KB Home senior VP William Hollinger stated regarding market conditions and pricing?
William Hollinger noted on an earnings call last week that softer market conditions and greater affordability pressures have contributed to increased pricing pressures across many markets, leading the home builder to make pricing adjustments.
Q&A ID f49754d1-2a91-408c-b896-ccf8f2f28531
How has the shift in mortgage types changed according to MBA data?
As rates have reached their highest point since November 2023, adjustable-rate mortgages (ARMs) made up 10.3% of mortgage applications in the most recent period, marking the highest point since October 2025.
Q&A ID d1de3c2f-4b49-49dd-9cc4-e4a32638d48f
What happened to mortgage applications during the week ended September 25, according to the Mortgage Bankers Association?
Mortgage applications fell 6% during the week ended Sept. 25 compared to a week earlier.
Q&A ID 67f50487-7d8b-4a31-bd83-e55fc113eb76
How have mortgage rates been influenced by 10-year Treasury yields according to the report?
Mortgage rates closely track 10-year Treasury yields, which have risen by over 1.25 percentage points since the start of the Iran war in February.
Q&A ID 7c1b2232-2766-4829-a36c-ad14ebfbf555
What was the weekly average 30-year fixed mortgage rate as of Thursday, and how does it compare to previous periods according to Freddie Mac?
The weekly average 30-year fixed mortgage rate was 7.28% as of Thursday, which is up 0.25 points from the previous week and up 0.94 points from a year ago. This represents the highest level in nearly three years, specifically the highest point since November 2023.
Q&A ID 37094cd6-7b74-49f4-9dc0-1087e60e1fe9