Sales Performance - Sales of new single-family homes dropped 13.7% in May compared to April, totaling 623,000 units on a seasonally-adjusted, annualized basis, which is 6.3% lower than May 2024 and below both the 6-month average of 671,000 and the one-year average of 676,000 [1] - Wall Street analysts had expected May new home sales to be 695,000 according to estimates from Dow Jones [1] Mortgage Rates - The average rate on the 30-year fixed mortgage started May at 6.83%, rose to just over 7%, and settled back at 6.95% by the end of the month [2] - High mortgage rates are impacting buyer activity, limiting the potential for sales increases [3] Market Conditions - The macroeconomic environment remains challenging, with high mortgage interest rates and diminished consumer confidence affecting demand [4] - Home builders are experiencing mixed responses, with some lowering prices while others, like KB Home, are raising prices despite the overall market conditions [4] Pricing and Supply - The median price of a new home sold in May was $426,600, which is 3% higher than the previous year [5] - Slower sales have led to a significant increase in supply, with 507,000 new homes available at the end of May, representing a 9.8-month supply at the current sales rate, which is 15% higher than May 2024 [5] - This level of supply has not been seen since the summer of 2022 and has not been this high since 2009 during the subprime mortgage crisis [6]

Mortgage rates dropped across most loan types Monday, including the flagship 30-year average, which has fallen to its lowest level in two and a half months. https://t.co/InwucPTHee ...

Welcome to Wealth. I'm Ally Canel and this is Yahoo Finance's guide to building your financial footprint. Our community of experts will give you the resources, tools, tips, and tricks you need to grow your money.On today's show, policy whiplash causing investor fatigue. One portfolio manager explains where to find opportunity and how you can position for the summer. And the majority of Americans are concerned about how tariffs could impact their finances.We have tips to help consumers navigate the current e ...

Primary Mortgage Market Survey® U.S. weekly average mortgage rates as of 06/18/2025 MCLEAN, Va., June 18, 2025 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.81%. “Mortgage rates moved lower, with the average 30-year fixed rate reaching a four-week low,” said Sam Khater, Freddie Mac’s Chief Economist. “More available inventory to choose from, coupled with this week’s decline ...

Core Insights - The average 30-year fixed-rate mortgage (FRM) decreased to 6.85% as of June 5, 2025, down from 6.89% the previous week and 6.99% a year ago, indicating a positive trend for potential homebuyers [1][5] - The 15-year FRM also saw a decline, averaging 5.99%, down from 6.03% last week and 6.29% a year ago, reflecting a broader easing in mortgage rates [5] Group 1: Mortgage Rate Trends - The 30-year FRM averaged 6.85% as of June 5, 2025, a decrease from the previous week [5] - The 15-year FRM averaged 5.99%, showing a similar downward trend [5] - Year-over-year comparisons indicate that both the 30-year and 15-year FRMs have decreased from 6.99% and 6.29%, respectively [5] Group 2: Market Context - The decrease in mortgage rates is seen as beneficial for potential homebuyers, coinciding with improvements in inventory and a slowdown in house price growth [1] - Freddie Mac's mission emphasizes promoting liquidity, stability, and affordability in the housing market across economic cycles [3]

Core Insights - The 30-year fixed-rate mortgage (FRM) averaged 6.89% as of May 29, 2025, showing a slight increase from 6.86% the previous week and a decrease from 7.03% a year ago [1][5] - The 15-year FRM also increased to an average of 6.03% from 6.01% last week, down from 6.36% a year ago [5] - Freddie Mac emphasizes the importance of shopping around for mortgage rates to potentially save thousands of dollars [1] Company Overview - Freddie Mac's mission is to enhance liquidity, stability, and affordability in the housing market across all economic cycles, having assisted millions of families since 1970 [3] - The Primary Mortgage Market Survey (PMMS) focuses on conventional, conforming, fully amortizing home purchase loans for borrowers with excellent credit who put 20% down [2][4]

Core Insights - Freddie Mac reported that the 30-year fixed-rate mortgage (FRM) averaged 6.76% as of May 8, 2025, remaining unchanged from the previous week [1][6] - A year ago, the 30-year FRM was higher at 7.09%, indicating a decrease of 30 basis points year-over-year [2][6] - The 15-year FRM averaged 5.89%, down from 5.92% the previous week, and was 6.38% a year ago, showing a year-over-year decline [6] Market Trends - Mortgage rates have remained stable over the past weeks, contributing to an increase in purchase applications [2] - The current mortgage rates are lower compared to the same period last year, which had seen declining purchase applications [2] Freddie Mac's Mission - Freddie Mac aims to enhance liquidity, stability, and affordability in the housing market across various economic cycles, having assisted millions of families since its inception in 1970 [3]