Weekly Housing Headlines

Mortgage applications increased 20.4% from one week earlier; interest rates fell to 6.63% this week, the largest weekly decline since September; construction costs could increase by 4% to 6% over the next 12 months due to tariffs; consumer credit delinquencies hit a five year high; more first-time buyers are entering the market; and home prices fell by the lowest margin since November last week.

Mortgage Applications Increase in Latest MBA Weekly Survey
Mortgage Bankers Association - 3/5/2025
Mortgage applications increased 20.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending February 28, 2025.

Interest rates see the steepest drop since September
Scotsman Guide - 3/6/2025
Interest rates fell to 6.63% this week for a 30-year fixed rate mortgage, down 0.13% from the week before when rates averaged 6.76%, according to Freddie Mac. This is largest weekly decline since September.

Tariffs could drive up new home prices by as much as $22,000, research finds
CNBC - 3/5/2025
Construction costs could increase by 4% to 6% over the next 12 months, adding roughly $17,000 to $22,000 to the sticker prices for new homes, according to CoreLogic.

Weekly Housing Trends View — Data for Week Ending March 1, 2025
Realtor.com - 3/6/2025
This week, the housing market looked similar to last year in terms of prices and time on market, but inventory and price reductions continue to outpace year-ago levels. Prices also fell by the lowest margin since November last week.

Consumer Credit Delinquencies Hit Five-Year High
National Mortgage Professional - 2/28/2025
Mortgages were the primary driver of this increase, as elevated home prices and high interest rates continued to weigh on consumers’ ability to pay down mortgage debt.

More First-Time Buyers Coming Off the Sidelines
MortgagePoint - 3/5/2025
New data from LendingTree shows that among those active in the market last year, first-time buyers received a larger share of offers than those who already own.

Redfin Reports 1 in 7 Pending Home Sales Are Getting Canceled, the Highest Share During This Time of Year on Record
Redfin - 2/28/2025
Just over 41,000 U.S. home-purchase agreements fell through in January, equal to 14.3% of homes that went under contract that month, according to a new report from Redfin.

Redfin Reports Pending Home Sales Are Down 6%, But Falling Mortgage Rates Are Starting to Attract Buyers
Redfin - 3/6/2025
Pending U.S. home sales fell 6.4% from a year earlier during the four weeks ending March 2, the second-biggest decline since November 2023.

Here’s how tariffs will hit the U.S. housing market
CNBC - 3/4/2025
The new tariffs could increase builder costs anywhere from $7,500 to $10,000 per home, said Rob Dietz, chief economist at the National Association of Home Builders, citing estimates from U.S. homebuilders.

Good Signs For Homebuyers: More Supply, Lower Rates And More Purchasing Power 
The Mortgage Reports - 3/5/2025
Recent data from Redfin indicates a more promising environment for buyers in the weeks and months ahead, and several other industry experts agree.