Homebuyers face split housing market as 30-year mortgage rate rises to 6.37%

8 articles · Updated · National Association of REALTORS® · May 7

Freddie Mac said purchase applications fell 4% last week, while the average purchase loan size hit a record $467,300.
Economists said higher-income, equity-rich buyers remain active, but first-time and lower-income households are pulling back as affordability strains and economic uncertainty grow.
New-home sales rose 7.4% in March and median new-home prices fell to $387,400, below existing-home prices, offering some buyers relief as owners with sub-4% mortgages delay listing.

With a new Fed chair imminent, will internal policy clashes make mortgage rates more volatile for the rest of the year?

Are Middle East tensions now a bigger driver of your mortgage rate than the Federal Reserve's domestic policies?

As more homes finally hit the market, could a surge in buyer demand prevent prices from actually becoming more affordable?