The median purchase rate increased to 6.625% in week 16, 2025.
According to Mortgage News Daily, the avg. 30-year rate was 6.94% on April 21st.
Purchase rate lock volume was down 35% from the same week in 2019, and down 22% YoY.
Preliminary YoY HPA was 2.6% in March 2025. It is projected to be 2.5% and 2.3% for April 2025 and the first two weeks of May 2025, respectively.
Despite subdued purchase activity and relatively high rates, YoY HPA remains healthy, largely due to buyers being well-qualified.