The median purchase rate decreased to 6.625% in week 8, 2025.
According to Mortgage News Daily, the avg. 30-year rate was 6.89% on Feb. 24th.
Purchase volume was down 19% from the same weeks in 2019, and down 5% YoY, with volume growth slowing with increasing rates.
Preliminary YoY HPA was 3.9% in January 2025. It is projected to be 3.3% and 2.7% for February 2025 and the first three weeks of March 2025, respectively.
Despite subdued purchase activity and relatively high rates, YoY HPA remains strong, largely due to buyers being well-qualified.