Weekly Housing Headlines

Pending home sales dropped 4.6% from December, the lowest level on record; mortgage rates dropped for the sixth straight week to 6.76%; mortgage application payments increased 3.7%; home prices grew 3.9% in December from a year earlier; the housing market continues its shift toward a more balanced state, with prices remaining on a downward trend and new listings and active inventory continuing to rise; and despite the market slowdown, refinancing is up.

Pending home sales drop to the lowest level on record in January
CNBC - 2/27/2025
Pending sales, which are based on signed contracts for existing homes, dropped 4.6% from December to the lowest level since the National Association of Realtors began tracking this metric in 2001.

Mortgage Rates Slip To Lowest Since Middle Of December
Financial Advisor - 2/27/2025
Mortgage rates in the U.S. dropped for a sixth week, falling to the lowest level in more than two months. The average for 30-year loans was 6.76%, down from 6.85% last week, Freddie Mac said in a statement.

Mortgage Application Payments Increased 3.7 Percent to $2,205 in January
Mortgage Bankers Association - 2/27/2025
Homebuyer affordability conditions declined further in January as volatile mortgage rates and high home prices continue to impact many prospective buyers’ purchasing power.

Refinancing Up In Q4 Despite Broader U.S. Mortgage Slowdown
National Mortgage Professional - 2/27/2025
The U.S. mortgage market continued its volatile trajectory in the final quarter of 2024, with total lending activity slipping 3% from the previous quarter, according to a new report from ATTOM.

Weekly Housing Trends View — Data for Week Ending Feb. 22, 2025
Realtor.com - 2/27/2025
This week, the housing market continued its shift toward a more balanced state. Prices remain on a downward trend, while new listings and active inventory continue to rise.

Home Sales Prices Climb — and Reach All-Time Highs in One City
Realtor.com - 2/25/2025
Nationwide, home prices grew 3.9% in December from a year earlier, more than the 3.8% gain recorded in November, according to the latest S&P CoreLogic Case-Shiller Index data released Tuesday.

Home sales drop sharply as prices hit an all-time high for January
CNBC - 2/21/2025
Sales of previously owned homes fell 4.9% in January from the prior month to 4.08 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors. Analysts were expecting a 2.6% decline.

Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage Bankers Association - 2/26/2025
Mortgage applications decreased 1.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending February 21, 2025.

New-Home Sales Drop Sharply as Prices for New Builds Jump to a 3-Year High
Realtor.com - 2/26/2025
Signed contracts for new single-family homes plunged 10.5% last month from December, to a seasonally adjusted annual pace of 657,000, the U.S. Census Bureau reported. The January sales figure was down 1.1% from a year earlier.

Fannie Mae raises 2025 mortgage rate forecast amid inflation concerns
Mortgage Professional America - 2/21/2025
The Fannie Mae Economic and Strategic Research Group revised its mortgage rate forecast upward, expecting rates to end 2025 at 6.6% and 2026 at 6.5%, reflecting persistent inflation risks and trade policy shifts.