Mortgage rates bolt back toward 7%

Powell’d! Mortgage Applications Decline By 13% Since Previous Week (Refi Apps Down 20% From Previous Week)

Fed Chair Jerome Powell is apparently waiting for the tariff “war” to settle down before he pushes for interest rate cuts. Meanwhile, rising mortgage rates are hurting consumers and the mortgage industry. Mortgage applications decreased 12.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 18, 2025. The Market Composite Index, a measure of…

Mortgage rates bolt back toward 7%

Mortgage rates had been trending downward for much of 2025, but that’s changed in the past week as markets digest the impacts of a global trade war and investors speculate that the Federal Reserve could lose its independence. At HousingWire’s Mortgage Rates Center on Tuesday, 30-year conforming rates averaged 6.98% — up 20 basis points (bps) from one week ago and the highest rate since the end of February. And 15-year conforming rates have shot …

Why Are Mortgage Rates Rising Back to 7%: The Key Drivers

Are you in the market for a new home, or thinking about refinancing? If so, you've probably been watching mortgage rates like a hawk. The bad news? As of April 22, 2025, the average 30-year fixed mortgage rate has indeed crept back up, hovering just under 7.00%. Let's explore the reasons behind this increase, what it means for you, and what you can expect in the coming months. Why Are Mortgage Rates Rising Back to 7%: The Key Drivers Recent Mort…