Lisa Hintz

US 30-yr fixed mortgage avg. reached ~6.5% by April 2, up from ~6.4% a week earlier, while staying below the yearly level.
The 15-yr fixed rate also moved higher, averaging ~5.8%, versus ~5.75% the prior week and slightly below the yearly comparison.
Long-term borrowing costs stayed above 6% for a fifth straight week, reversing a brief Late-Q1 dip below that threshold that had raised hopes.
Higher rates pressured demand: overall loan applications fell >10% in the latest week, with refinance activity ↓17% weekly and down >40% versus Mid-Q1.
Supply showed improvement. New listings jumped >20% from Mid-Q1 to Late-Q1, beating normal seasonal patterns and signaling stronger seller confidence entering spring.
Analysts said geopolitical tensions, higher oil prices, rising bond yields, and more hawkish Fed signals added volatility and complicated hopes for mortgage-rate relief.

US Mortgage Rates Climb Toward 6.5%

For the 4 wk ending Late-Q1, the median US monthly mortgage payment reached $2,742, ↑0.3% yearly, the first increase since Early-Q4 2025.
The avg. 30-yr mortgage rate hit ~6%, daily rates touched ~7%, and the median sale price ↑2.1% to $391.5K, the biggest yearly gain in 1 yr.
The report tied higher borrowing costs to the Iran war and rising oil prices, which lifted Treasury yields and kept mortgage rates elevated despite softer economic data.
Demand showed strain: pending sales ↓1.2% yearly, purchase applications ↓3% MoM, and the typical home took 53 days to sell, 5 days longer yearly.
Supply moved differently. New listings ↑1.7%, leaving ~630K more sellers than buyers, the widest gap in the report's records dating back to 2013.
An agent said sellers needed strong presentation and basic repairs, because some buyers walked away during inspections after uncovering problems in a more selective market.
Officials sounded more hawkish as energy-driven inflation risks grew. An internat