Mortgage rates in 2026 have remained below 7%, keeping housing demand stable but slowing growth to flat or slightly negative year-over-year. New listings have stayed steady, supporting a healthier market despite elevated rates. Housing inventory shows mild growth, and price cuts are slightly higher than last year. Mortgage spreads have prevented rates from exceeding 7%, though rising yields and geopolitical risks could push rates higher. Pending sales and purchase applications reflect modest declines amid these conditions.