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Rising Mortgage Rates May Squelch Spring Homebuying Season
Rising mortgage rates driven by inflation fears and geopolitical tensions have led to a 35% drop in home purchase applications since 2019, the MBA reported.
- The Mortgage Bankers Association reported that average weekly mortgage rates for 30-year fixed mortgages rose to 6.43% today, the highest level since October 2025.
- War in Iran, which began late last month, has rattled markets by throttling global energy supplies moving through the Strait of Hormuz, stoking inflation fears that push bond yields higher.
- Redfin found 25% of Americans are delaying major purchases due to the conflict, while refinancing and purchase applications plunged over the past two weeks as rates climbed.
- Spring homebuying season expectations are already faltering, as higher mortgage rates and elevated costs for household goods and gas further burden potential buyers this year.
- Redfin reported a record 3.6% of homes for sale were relistings from 2025, offering hope for inventory improvement in a housing market frozen for four years.
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24 Articles
InsideNoVA.com+22 Reposted by 22 other sources
Rising Mortgage Rates May Squelch Spring Homebuying Season
This has been a rough week on numerous levels, and mortgage rates are no exception. The average rates starting with a five that we saw in February — somehow only four weeks ago — now feel like a fever dream.The…
Coverage Details
Total News Sources24
Leaning Left4Leaning Right2Center6Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 33%
C 50%
R 17%
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