Key takeaways:
- The median purchase rate held steady at 6.125% in week 50, 2025.
- According to Mortgage News Daily, the avg. 30-year rate was 6.29% on December 15th.
- Purchase rate lock volume remains muted, down 25% from the same week in 2019, sharply below the 2020 & 2021 levels, but up 5% YoY.
- Preliminary YoY HPA was 1.5% in October 2025 and projected at 1.3%, 1.2%, and 0.9% for Nov. 2025, Dec. 2025, and the first week of Jan. 2026, respectively.
- Projected YoY HPA has slowed to near zero, largely due to subdued purchase activity, relatively high rates and inventory, and a diminishing pool of well-qualified entry-level buyers.