Core Insights - Mortgage rates are currently just above 6%, with the average 30-year fixed mortgage rate at 6.03% and the 15-year fixed rate at 5.42% [1][20] - Zillow's rates tend to be lower than those reported by Freddie Mac due to different data collection methods [1] - Mortgage rates can vary significantly based on state, lender, loan type, and other factors [1] Current Mortgage Rates - The current national average mortgage rates include: - 30-year fixed: 6.03% - 20-year fixed: 5.95% - 15-year fixed: 5.42% - 5/1 ARM: 6.03% - 7/1 ARM: 6.18% - 30-year VA: 5.46% - 15-year VA: 5.05% - 5/1 VA: 5.16% [6] Refinance Rates - Today's mortgage refinance rates are generally higher than purchase rates, although this is not always the case [4] - The refinance rates are also based on national averages rounded to the nearest hundredth [4] Market Trends - Mortgage rates have gradually decreased since the end of May, with the 30-year fixed rate peaking over 7% in January and then fluctuating [22] - The Mortgage Bankers Association (MBA) forecasts the 30-year mortgage rate to be near 6.4% through 2026, while Fannie Mae predicts rates above 6% next year, dropping to 5.9% in Q4 2026 [21] Buying Considerations - The current housing market is considered relatively favorable compared to the previous years, with home prices stabilizing [19] - Timing the real estate market is often seen as challenging, and the best time to buy is when it aligns with personal circumstances [19]

Core Insights - U.S. existing home sales saw a modest increase of 0.5% in November, reaching a seasonally adjusted annual rate of 4.13 million units, although this was below economists' expectations of 4.15 million units [10] - The housing market continues to face significant challenges, including a sluggish labor market and high prices, which are limiting consumer confidence and demand [10][6] Sales Performance - Home sales surged by 4.1% in the Northeast and increased by 1.1% in the South, while the Midwest experienced a decline of 2.0%, and sales in the West remained unchanged [10] - Year-over-year, home sales declined by 1.0% in November [3] Mortgage Rates and Economic Conditions - The average rate for a 30-year fixed mortgage dropped from 7.04% in mid-January to 6.19% by the end of November, but has since stabilized around 6.21% [4][10] - The unemployment rate rose to 4.6% in November, the highest in over four years, and annual wage growth is at its slowest since May 2021, contributing to economic uncertainty [4][10] Inventory and Pricing - The inventory of existing homes fell by 5.9% to 1.430 million units in November, the lowest level since March, although it was up 7.5% from a year ago [7][10] - The median existing home price increased by 1.2% year-over-year to $409,200, while the median days on the market rose to 36 from 32 [8][10] Market Dynamics - All-cash sales accounted for 27% of transactions, up from 25% a year ago, indicating a shift in buyer behavior [9][10] - First-time buyers represented 30% of sales, unchanged from the previous year, with a target of 40% needed for a robust housing market [10]

Core Insights - Home sales in November increased for the third consecutive month, but 2025 sales are projected to be at a 30-year low [1] - Existing home sales rose by 0.5% from October to a seasonally adjusted annual rate of 4.13 million, attributed to lower mortgage rates [1][2] - Despite recent improvements, the housing market remains in a slump due to high prices, elevated mortgage rates, and consumer unease, with sales expected to be the lowest since 1995 [4] Sales Performance - Sales increased month-over-month in the Northeast and South, remained flat in the West, and decreased in the Midwest [5] - Year-over-year, home sales are down by 1% [5] - Housing inventory decreased by 5.9% to 1.43 million units compared to October, but showed a 7.5% improvement from November 2024 [5] Economic Influences - The health of the labor market and inflation trends will be critical for the housing market in the upcoming year [5] - A rebound in the housing market is contingent on a solid labor market, income growth, and economic resilience amid ongoing affordability challenges and elevated mortgage rates [6]

Existing-home sales in the US barely rose in November, as a recent moderation in price growth and mortgage rates motivated buyers at the margin https://t.co/Y6IW0v7FIJ ...

Home sales rose in November for the third straight month, with lower mortgage rates injecting some fresh momentum into the long sluggish housing market https://t.co/h64ob0gSBR ...

Core Insights - The housing market is facing challenges due to high home prices, elevated mortgage rates, and reduced supply, impacting potential homebuyers [1] - Sales of previously owned homes increased by 0.5% in November compared to October but were down 1% year-over-year, with an annualized sales rate of 4.13 million units [1][2] Supply and Inventory - The supply of homes for sale decreased in November, with 1.43 million homes available, representing a 5.9% decline from October but a 7.5% increase year-over-year [3] - At the current sales pace, the housing market has a 4.2-month supply of homes, indicating a tighter market compared to the balanced six-month supply [3] - Inventory growth is stalling, with distressed property sales at historic lows and homeowners reluctant to list their properties during winter months [4]

PRICES RISING 2.7% FROM A YEAR AGO. THAT WAS COOLER THAN EXPECTED. THE PRINT SENDING ODDS OF A MARCH RATE CUT TO OVER 50% RIGHT NOW.JOINING US NOW IS PIMCO GLOBAL ECONOMIC ADVISOR, FORMER FEDERAL RESERVE VICE CHAIR RICHARD CLARIDA. IT'S GREAT TO HAVE YOU HERE. >> WELCOME BACK.YEAH. ALWAYS ENJOY IT. >> SO HOW MUCH DO YOU READ INTO THIS INFLATION PRINT.>> I THINK THERE'S SOME GOOD NEWS HERE. OBVIOUSLY DISTORTIONS WITH THE SHUTDOWN AND SOME SEASONALS. BUT I THINK YOU TAKE THE GOOD NEWS WHEN YOU CAN CAN GET IT. ...

Mortgage rates in the US ticked lower this week https://t.co/B7Fye9VuHI ...

Mortgage Rates Overview - Mortgage rates remained stable, with the average 30-year mortgage rate at 6.21% and the 15-year rate at 5.47% [1][3] - The stability in mortgage rates has been observed since mid-September, contributing to increased buying and selling activity in the housing market [3] Labor Market Impact - The unemployment rate increased to 4.6%, the highest since 2021, but this did not significantly affect Treasury yields or mortgage rates [2] - The labor market slowdown was in line with expectations, indicating a lack of immediate impact on financial markets [2] Mortgage Application Trends - Mortgage applications for home purchases decreased by 3%, while refinancing applications fell by 4% [3] - The Federal Reserve's recent interest rate cut has had minimal influence on mortgage rates, highlighting the indirect relationship between Fed policies and mortgage rates [3]

Mortgage Rates Overview - Current average mortgage rates are stable, with the 30-year fixed rate at 6.05% and the 15-year fixed rate at 5.52% [1] - The 20-year fixed rate is slightly higher at 6.06%, while adjustable-rate mortgages (ARMs) like the 5/1 ARM and 7/1 ARM are at 6.31% and 6.30% respectively [6] Mortgage Refinance Rates - Today's refinance rates show a similar trend, with the 30-year fixed refinance rate at 6.18% and the 15-year fixed refinance rate at 5.62% [7] - Refinance rates can sometimes be higher than purchase mortgage rates, indicating variability in the market [3] Factors Influencing Mortgage Rates - Mortgage rates are influenced by both controllable and uncontrollable factors, including borrower credit scores, debt-to-income ratios, and overall economic conditions [10][11] - A strong economy typically leads to higher mortgage rates, while a struggling economy may result in lower rates to encourage borrowing [12] Types of Mortgages - Fixed-rate mortgages lock in the interest rate for the entire loan term, while adjustable-rate mortgages have an initial fixed period followed by periodic adjustments [8] - The 30-year fixed mortgage is popular for its lower monthly payments, but it incurs more interest over time compared to a 15-year fixed mortgage, which has higher monthly payments but lower overall interest costs [13][14] Current Market Insights - Banks like Chase and Citibank are noted for offering some of the lowest median mortgage rates, emphasizing the importance of shopping around for the best rates [16] - Historical context shows that the lowest-ever 30-year fixed mortgage rate was 2.65% in January 2021, with current rates unlikely to dip below 3% in the near future [18]