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Mortgage Applications Increase in Latest MBA Weekly Survey
“Given the evolving situation in the Middle East and its impact on energy and commodity prices, mortgage rates declined last week. The 30-year fixed rate decreased to 6.42 percent, its lowest level in a month,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “This dip in rates helped to support an increase in conventional refinance applications, which had declined for five consecutive weeks."
Baby Boomers Remain Largest Share of Home Buyers as First-Time Buying Falls to Record Low
“The housing market remains sharply divided between homeowners with equity and first-time buyers trying to break in—many of whom are younger Millennials,” said NAR Deputy Chief Economist Dr. Jessica Lautz. “For many younger households, affordability challenges and limited inventory are still making homeownership difficult to achieve.”
Builder Sentiment Posts Notable Decline on Economic Uncertainty
“Builder sentiment has fallen back in spring as buyers face ongoing elevated interest rates and growing economic uncertainty,” said NAHB Chairman Bill Owens, a home builder and remodeler from Worthington, Ohio. “The year started with hopes for housing momentum growth, but risks with respect to the Iran war, energy costs, and declines for consumer confidence have slowed the market.”
March New Home Purchase Mortgage Applications Increased 11 Percent
“Applications for the purchase of newly built homes increased in March, posting monthly and annual gains, and reaching the highest index level since the survey’s inception in 2012,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist.
NAR Existing-Home Sales Report Shows 3.6% Decrease in March
“March home sales remained sluggish and below last year’s pace,” said NAR Chief Economist Dr. Lawrence Yun. “Lower consumer confidence and softer job growth continue to hold back buyers.” Month-over-month sales fell in all four regions. Year-over-year sales rose in the South and West and fell in the Northeast and Midwest.

National Association of REALTORS® Reaches Agreement to Resolve Nationwide Homebuyer Claims in Tuccori v. At World Properties
The National Association of REALTORS® (NAR) today announced a settlement agreement that would resolve claims brought by homebuyers in the case of Tuccori et al. v. At World Properties et al., a class-action antitrust lawsuit related to buyer-agent commissions. In connection with this agreement, and given the substantially similar allegations, NAR will seek a stay in Batton et al. v. National Association of REALTORS® et al., since NAR’s settlement in Tuccori is intended to release the claims in the Batton case.
Latest FBI Cybercrime Report Shows Real Estate Fraud Losses Rising, Reinforcing Need for Strong Consumer Safeguards
“Fraud is not a side issue in housing; it is part of the affordability story,” said Chris Morton, chief executive officer of ALTA. “The FBI’s latest data shows real estate fraud is growing in a threat environment shaped by impersonation, business email compromise and AI-enabled deception. As losses rise, removing safeguards does not eliminate costs; it shifts them to consumers, lenders, insurers and the broader housing finance system.”
Remodeling Market Sentiment Edges Down but Remains Positive in First Quarter
“Remodeler sentiment remained generally positive in the first quarter, as it was at the end of last year, even as many remodelers are still working to manage their customers’ cost expectations,” said NAHB Remodelers Chair Elliott Pike, a remodeler from Homewood, Ala. “Only a relatively small share report homeowners putting projects on hold due to economic and political uncertainty.”
Mortgage Applications Decrease in Latest MBA Weekly Survey
“Higher mortgage rates and continued economic uncertainty weighed down on mortgage applications again last week. While mortgage rates saw a slight reprieve, with the 30-year fixed rate decreasing to 6.51 percent, many potential refinance borrowers have been frozen out by the sharp increase over the past month. The pace of refinance applications was at its lowest level since December 2025,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist.
March Jobs Report Commentary from MBA's Mike Fratantoni
“Employment increased by 178,000 in March. However, this topline number overstates the strength of this report. Much of the gain was a rebound in health care jobs following the resolution of a strike. The prior two months were revised down by a net 7000 jobs, with February revised to a 133,000 net loss. The 3-month average of 68,000 for the first quarter of the year is likely the best signal of a job market showing resilience amid a number of challenges."
Stewart Valuation Intelligence Acquires Nationwide Appraisal Network
Stewart Valuation Intelligence, a Stewart Information Services Corporation company, announced today that it has acquired Nationwide Appraisal Network, LLC, a nationally recognized appraisal management company with more than two decades of leading and shaping the appraisal industry.
Builders Respond to Affordability Challenges with Buyer Incentives and Innovative Designs
In 2025, a typical existing home sold for 1% more than a newly built home. Since 2022, median new home prices have declined by 5%. Builders are narrowing the price gap by adjusting costs and design. According to a recent NAHB survey, 64% of builders offered sales incentives and 37% cut prices.
Mortgage Applications Decrease in Latest MBA Weekly Survey
“The 30-year mortgage rate, now at 6.57 percent, reached its highest level since last August and is up half a percentage point from just one month ago. Refinance application volumes declined sharply again last week, dropping 17 percent, and are down more than 40 percent compared to last month,” said Mike Fratantoni, MBA’s SVP and Chief Economist.
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