Mortgage rates

The 3 basis point gain in the 30-year fixed comes as investors are now pricing in the likelihood of a Federal Reserve short-term rate hike in September.

The bill, which is meant to free up housing supply locked in by high mortgage rates, does not include assumable mortgages which stick with the property.

The 30-year fixed rate mortgage is at its highest point in 51 weeks with a divergence in forecasts for what happens between now and the end of the year.

Originators need to keep an eye on the 10-year Treasury yield used in pricing mortgages, which not only broke through 4.6%, climbed above 4.7% on Thursday.

Economists at the government-sponsored enterprise have been lowering their single-family origination volume estimates for several months.

Industry economists and analysts were predicting single digit quarter-to-quarter gains, but a trio of large banks had an over 30% rise in mortgage volume.

However, for the second quarter, increased home purchase mortgage activity contributed to an industry-wide 11% increase in agency securitizations, BTIG said.

Approximately 54% of homeowners looked to a second lien product to access their home's stored value in the first quarter due to the "lock-in effect."

The 30-year fixed rate mortgage average not only remains where it was in September, it is still nearly a half-percentage point above February's trough.

With the 10-year Treasury yield at levels not seen in 52 weeks, the 30-year fixed rate mortgage rose 15 basis points over last Thursday, Freddie Mac said.

Freddie Mac was more aggressive than its counterpart for much of the past year but March activity establishes that there's a different trend at play in 2026.

Portable mortgages are an interesting idea in theory, and might work well, if underwritten properly. But making existing mortgages portable on a retroactive basis would be both unworkable and unfair.

The Chicago-based homeowners received a $41,000 check to pay down a portion of their existing mortgage, freeing them from the lock-in effect, DREAM product provider Takara said.

This week's Freddie Mac mortgage rate survey shows rates at the lowest in four weeks, but homebuyers are giving mixed signals even with improved purchase power.

Adjustable rate mortgages accounted for 12% of total home loan volume in March, reaching its highest share of the market since October 2022.

Economists surveyed by Wolters Kluwer are scaling back rate cut expectations as Iran conflict-driven energy costs push inflation higher, complicating the Fed's path forward.

The 30-year fixed fell to 6.37% after a two-week ceasefire tempered war-driven volatility, but economists warn the spring housing market faces continued turbulence.

Mortgage rates rising nearly 40 basis points from early-year lows have pushed some buyers out of the market, even as inventory and affordability remain better than a year ago, ICE Mortgage Technology found.

The 30-year fixed rate climbed to 6.46% this week, its highest mark since September, as mortgage applications fell 10.4% and sellers outnumber buyers by a record 46%.

While San Francisco had the biggest improvement in affordability for prices today versus 2019, Hartford remains in a very deep freeze, First American said.