Core Insights - Credit scores for homebuyers in September reached their highest levels in at least six years, indicating a trend of better-financed borrowers entering the market as mortgage rates declined [2][6] - The average credit score for mortgage purchases hit 736 in September, significantly above pre-pandemic levels, suggesting a tightening of credit criteria by lenders [3][4] - The average credit score for refinancing also increased to 722, reflecting a similar trend among homeowners seeking to take advantage of lower rates [7] Mortgage Market Trends - Mortgage rates have been above 6% for over three years but fell below 6.3% in mid-September, leading to increased demand from better-financed buyers [5][6] - The rise in credit scores suggests that homebuyers with lower credit ratings may face challenges in obtaining mortgages, as lenders focus on limiting risk [4][6] - The shift to higher credit scores is attributed to the profile of borrowers entering the market, particularly those refinancing or purchasing homes as rates improve [7]

Core Insights - The report from Redfin indicates a significant decline in active U.S. home listings, marking the largest drop since 2023, with listings down 1.4% from July and nearly 3% year-over-year [1][2] - Concerns over housing costs and the economy are affecting both buyers and sellers, with expectations that home sales in 2025 will match the low levels of 2024, which was the worst year for sales since 1995 [2] - The median home sale price increased by 1.7% year-over-year to $440,004, but falling mortgage rates could lead to a potential increase in sales if they continue to decline [2][4] Market Dynamics - The average mortgage rate has reached a year-long low of 6.26%, approaching the "magic number" of 6% that could stimulate buyer interest significantly [4] - The current mortgage rate of 6% is still considerably higher than the 2.96% rate seen in 2021, which was the lowest in over 50 years, but is lower than the historical average of nearly 8% since 1971 [5] - Factors such as slower price growth, increased inventory, and stronger negotiating power are shifting the market dynamics in favor of buyers [5]

The 30-year fixed mortgage rate for week ending Sept. 25 rose to 6.3% from 6.26%, Freddie Mac data show https://t.co/X1QUrtbOOp ...

Core Insights - The real estate market experienced a significant increase in new home sales, rising 20.5% to an annualized rate of 800,000 units, the highest level since January 2022 [1] - Despite the surge in sales, analysts caution that this may be a temporary spike due to homebuilders offering discounts to manage oversupply [2] Sales and Inventory - The increase in demand led to a reduction in new home inventory, which fell to 490,000 units, the lowest level this year [3] - A notable 39% of homebuilders reported price cuts in September, an increase from 37% in August, indicating a sustained effort to attract buyers through discounts [3] Market Trends and Economic Indicators - New homes account for approximately 14% of total US home sales, and month-to-month data can be volatile, making it premature to declare a recovery in the housing market [4] - The 30-year mortgage rate has decreased to 6.26%, the lowest in 11 months, which is favorable for buyers, but high housing prices and a softening labor market remain concerns [4] - Analysts suggest that a significant decline in long-term interest rates is necessary to further stimulate demand in the housing market [4] - If the housing market recovers, it could positively impact overall economic growth and reduce the likelihood of a recession, benefiting risk assets in a non-recessionary rate-cutting cycle [4]

The 30-year fixed mortgage rate for week ending Sept. 18 fell to 6.26% from 6.35%, Freddie Mac data show https://t.co/bHGeJ4y9zE ...

Housing Market & Mortgage Rates - A 2% mortgage rate creates financial ties despite divorce [1] - Low mortgage rates influence housing decisions [1]

The 30-year fixed mortgage rate for week ending Sept. 11 fell to 6.35% from 6.5%, Freddie Mac data show https://t.co/753fXEZv1X ...

Core Insights - Mortgage rates have recently decreased, leading to a surge in mortgage applications, benefiting current homeowners [1][2] - The Mortgage Bankers Association (MBA) reported a 9.2% increase in loan applications on a seasonally adjusted basis from the previous week, with refinancing applications up 12% and 34% higher than the same week last year [1][3] Mortgage Rate Trends - The 30-year fixed-rate mortgage has dropped to 6.49%, the lowest since October of the previous year, indicating a weakened labor market [2] - The downward trend in rates has resulted in the highest borrower demand since 2022, with purchase applications at their highest level since July, over 20% ahead of last year's pace [3] Refinancing Insights - The holiday-adjusted refinance index experienced its strongest week in a year, with refinance applications making up nearly 49% of all applications last week [4] - The average loan size for refinances has increased significantly, as borrowers with larger loans are more sensitive to rate changes [4] Homebuyer Sentiment - A recent survey indicated that by Q3 2025, 52% of homeowners are willing to accept a mortgage rate up to 6.0% for their next purchase, up from 41% in Q1 2025 [4] - Despite the positive news, the current 30-year fixed rate is still 20 basis points higher than a year ago, reflecting ongoing market challenges [5]

We've heard the president argue that the reason rate should come down also is because the economy is doing well and things like the housing market. Are you saying that you agree with the president on that front. And if that's the case, what's the risk that the long and continues to rise and doesn't solve the problem that rate cuts are supposed to address.So it's a great question. So the first thing I would say, the housing market is stuck. Whether it's building permits, mortgage applications, new home sales ...

With the average 30-year fixed mortgage rate at a 10-month low, homeowners with high-rate mortgages are starting to get excited about refinancing https://t.co/8gP1B8dHjb ...