Mortgage Rates Jump Back Above 6% As Pending Home Sales, New Listings Post Small Improvements
Rocket Companies, Inc. Class A (RKT)
Company Research
Source: Business Wire
A Redfin agent in Austin said the upside of higher mortgage rates is that they decrease competition, allowing house hunters to negotiate prices down and ask for concessions SEATTLE--(BUSINESS WIRE)--Mortgage rates are bouncing back up and home-sale prices are rising, according to a new report from Redfin, the real estate brokerage powered by Rocket.The weekly average mortgage rate rose to 6.11% last week, the highest level since the start of 2026, as inflation jitters and the Iran war rattled markets. The daily average mortgage rate jumped higher, to a six-month peak of 6.41%, on Friday, and has since dropped slightly to 6.31%. The median U.S. home-sale price was $387,000 during the four weeks ending March 15, up 1.3% year over year, the biggest increase since November.The median monthly payment is $2,649, which is down 2.7% year over year but the highest it has been in nine months (housing payments are seasonal; they’re typically highest in late spring and early summer).Pending ho
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