Economy

For the four weeks ended March 2, pending sales were down 6.4% annually as prices continued to rise, pushing borrower monthly payments near their all-time high.

Other trackers like Zillow and Lender Price on Thursday morning have the 30-year fixed moving higher, following a jump in the benchmark 10-year Treasury yield.

A March 2025 survey by the National Association for Business Economics shows growing inflation concerns — and a diminishing chance of rate cuts — in 2025, but also optimism about avoiding a recession.

Treasury Secretary Scott Bessent expects the U.S. housing market to quickly pick up steam after recent indicators came in below forecasts.

Tariff and layoff worries are leading some to reconsider pending deals, but a surplus of existing homes now has other buyers backing out as well, Redfin said.

Treasury Secretary Scott Bessent wants to focus on bringing down long-term interest rates, not the overnight ones set by the Federal Reserve.

The Federal Reserve's preferred inflation index showed little progress toward its target of 2%, increasing the likelihood of a prolonged rate pause.

The 30-year conforming fixed-rate mortgage is at its lowest point since the end of December, as Treasury yields are 29 basis points lower since Feb. 19.

The potential impacts of import tariffs cloud the outlook, though, and could lead mortgage rates to surge and fall throughout the coming year.

While Freddie Mac's weekly survey showed 30-year rates falling, other indicators paint a mixed picture for mortgage lenders and borrowers.