The median purchase rate decreased to 6.575% in week 18, 2025.
According to Mortgage News Daily, the avg. 30-year rate was 6.90% on May 5th.
Purchase rate lock volume was down 33% from the same week in 2019, and down 21% YoY.
Preliminary YoY HPA was 2.6% in March 2025. It is projected to be 2.8% and 2.8% for April 2025 and the first four weeks of May 2025, respectively.
Despite subdued purchase activity and relatively high rates, YoY HPA remains modestly positive, largely due to buyers being well-qualified.