Optimal Blue said March lock volume jumped 13% from February and 26% from a year earlier as the average 30-year fixed mortgage rate rose to 6.37% this week.
Rates fell below 6% in late February, then rebounded amid the Iran conflict, oil-price fears and bond-market concerns, prompting buyers to seek payment certainty before closing.
Pending home sales hit their highest since September 2022 and March new-home sales increased, suggesting buyers remain active as lower prices and higher inventory modestly ease affordability pressures.
Beyond oil prices, which geopolitical flashpoints could unexpectedly send mortgage rates tumbling and reward buyers who decide to wait?
With a 'new normal' of 6% rates predicted, what innovations could disrupt forecasts and bring back 4% mortgages?
What economic shock could be powerful enough to finally break the housing market paralysis caused by the current 'lock-in effect'?