The median purchase rate decreased to 6.625% in week 19, 2025.
According to Mortgage News Daily, the avg. 30-year rate was 6.92% on May 12th.
Purchase rate lock volume was down 36% from the same week in 2019, and down 14% YoY.
Preliminary YoY HPA was 2.6% in March 2025. It is projected to be 2.8%, 2.8%, and 3.4% for April 2025, May 2025, and the first week of June 2025, respectively.
Despite subdued purchase activity and relatively high rates, YoY HPA remains modestly positive, largely due to buyers being well-qualified.