[Music] Over the summer, many of the home builders started rallying in anticipation of rate cuts from the Fed. But now the Feds start cutting and the group keeps rolling over. So what's going on here.Didn't we want rate cuts to jolt the industry out of the doldrums. Well, let's look at what happened when some of the key home builders recently reported. First, we got Lenar, the Miami based developer that's become one of the largest home builders in the country.Lenar kicked these off last Thursday when they r ...

Mortgage rates rose this week for the first time since mid-July, mortgage buyer Freddie Mac said Thursday. Freddie Mac's latest Primary Mortgage Market Survey, released Thursday, showed the average rate on the benchmark 30-year fixed mortgage rose to 6.3% from last week's reading of 6.26%. The average rate on a 30-year loan was 6.08% a year ago. TREASURY'S BESSENT SAYS FIXING HOUSING AFFORDABILITY CRISIS WILL BE ONE OF HIS 'BIG PROJECTS' THIS FALL "Housing market activity continues to hold up with purchase ...

We've seen it before, but it’s still jarring. The Federal Reserve lowers short-term interest rates, and mortgage rates inexplicably increase. It happened last September and again with the first Fed cut of 2025 last week. So, what's going on? What happens when the Fed lowers interest rates First of all, the Federal Reserve and mortgage rates are working on two ends of a timeline. The Fed steers short-term interest rates, and mortgage rates are influenced by long-term bonds. When the Fed cuts its federal ...

Mortgage rates inched up after several weeks of decline, but the housing market activity remained solid, according to the latest Freddie Mac Primary Mortgage Survey. 30-year fixed-rate mortgages averaged 6.30% as of September 25, up from 6.26% last week and 6.08% in the year-ago ...

Mortgage rates rose slightly this week as financial markets adjusted after the Federal Reserve cut the benchmark federal funds rate. The average 30-year mortgage rate was 6.3% through Wednesday, up from 6.26% last week, according to Freddie Mac data. 15-year mortgage rates rose to 5.49% from 5.41%. The Fed doesn’t directly control mortgage rates, and it’s not unusual for mortgage rates to rise even after benchmark interest rates are cut. A similar dynamic occurred last year, with mortgage rates hitting th ...

MCLEAN, Va., Sept. 25, 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 6.30%. “Following several weeks of decline, mortgage rates inched up this week,” said Sam Khater, Freddie Mac’s Chief Economist. “Housing market activity continues to hold up with purchase and refinance applications increasing by 18% and 42%, respectively, compared to the same time last year.” News Facts Th ...

Mortgage rates climbed a bit higher today. According to Zillow, the 30-year fixed-rate home loan rose six basis points to 6.45%, while the 15-year fixed-rate mortgage gained five basis points to 5.77%. The 10-year Treasury yield, a benchmark for mortgage rates, has generally risen since the Fed rate cut last week. Read more: How to buy a house in 13 simple steps Today's mortgage rates Here are the current mortgage rates, according to the latest Zillow data: 30-year fixed: 6.45% 20-year fixed: 6.07% ...

Group 1 - Sales of newly built homes increased by 20.5% in August compared to July, reaching the highest level since January 2022, and marking the largest one-month gain since August 2022 [1] - Sales in August were 15.4% higher than in August 2024, indicating a strong year-over-year performance [1] - The average rate on the 30-year fixed mortgage was 6.63% at the beginning of August, which did not fluctuate significantly during the month [2] Group 2 - A notable decline in mortgage rates began in September, dropping to a three-year low of 6.13% before the Federal Reserve cut its lending rate [2] - The increase in August sales is surprising given that mortgage rates had not yet fallen, suggesting potential anomalies in the data [3] - The margin of error for new home sales is significant, and further revisions and September data will be necessary to confirm the trends [3]

But first, new home sales just crossing. Diana Ol has those numbers for us. Diana, >> David, a massive beat on new home sales.800,000 seasonally adjusted annualized rate in August. The street was looking for 650. This is up 20.5% from July and up 15.4% from August of 2024.Now, we've been talking about mortgage rates, of course, uh, forever and they didn't come down in August. These numbers are based on signed contracts. So, people out shopping in August when the 30-year fix had not started its steep drop th ...

Mortgage rates are sorting out the Fed rate cut. According to Zillow, the current 30-year fixed mortgage rate is 6.32%. The 15-year fixed rate is 5.70%. If you can get a similar rate from a lender, this might be a good time to buy a house and lock in a relatively low rate. "This ongoing gap between market and Fed expectations means that some risk of upward pressure on mortgage rates remains, but for now, consumers have already benefited from the drop in mortgage rates that has brought mortgage rates below ...