Recent mortgage demand showed momentum, with purchase applications ↑4% weekly and ↑7% yearly, signaling buyers are still active despite inflation concerns today.
Overall applications, including refinances, ↑~2% recently as buyers looked beyond a hotter cost-of-living reading and changing mortgage rates for today’s purchase decisions.
Federal inflation data put annual inflation near 4% for the 12 mo ending Early-Q2, while current 30-yr fixed mortgage rates averaged mid-6%.
Industry leaders said stable policy could support affordability and confidence, especially if long-term borrowing costs remain central to future rate decisions ahead.
For clients, current guidance emphasized known conditions over projections: rates remain comparatively favorable, but the rate path is still hard to predict.
US Buyers Push Past Inflation Fears
