Quality Services.

May 15 2026

Existing-home sales edged slightly higher in April, stabilizing after March’s decline as improving affordability and increased inventory provided modest support for buyers. Sales increased 0.2% to a seasonally adjusted annual rate of 4.02 million , matching the pace seen one year ago. “Despite mixed macroeconomic signals—including a record-high stock market and historically low consumer confidence—home sales were modestly boosted by the continued improvement in housing affordability,” said NAR Chief Economist Lawrence Yun. He also noted that mortgage rates remain lower than a year ago while income growth continues to outpace home price appreciation. Inventory continued to improve in April, though supply remains relatively constrained by historical standards. Total housing inventory climbed to 1.47 million units , up 5.8% from March and 1.4% higher than a year ago, representing a 4.4-month supply of homes. “Inventory still remains tight,” Yun said, adding that multiple offers are still occurring in some markets even as buyers take more time to make purchasing decisions. Home prices continued to move higher nationally, though appreciation remained relatively modest. The median existing-home price increased to $417,700 , up 0.9% year-over-year and marking the 34th consecutive month of annual price gains. Affordability improved compared to last year across all regions. The Housing Affordability Index registered at 110.6 in April, up from 101.4 one year earlier, reflecting the combination of slower home price growth, easing rates, and stronger household incomes.

May 15 2026

Mortgage applications increased modestly last week, as stronger purchase activity more than offset a slight decline in refinances. The Mortgage Bankers Association (MBA) reported a 1.7% increase in total application volume on a seasonally adjusted basis for the week ending May 8. The gain was driven entirely by home purchase demand, which continued to show resilience despite mortgage rates remaining near recent highs. The seasonally adjusted Purchase Index increased 4% from the prior week and was 7% higher than the same week one year ago. Refinance activity, meanwhile, edged lower. The Refinance Index declined 1% week over week but remained 28% above year-ago levels. Even so, refinance share slipped to its lowest point since July 2025, reflecting the limited incentive for many borrowers to refinance at current rate levels. The average 30-year fixed mortgage rate increased slightly to 6.46% from 6.45%, marking the highest level in five weeks. Despite the uptick, purchase demand improved across all major loan categories. Note: this data was collected before the rate spike at the end of the week (captured in MND's daily rate index) MBA’s Joel Kan said, " Purchase applications were higher over the week and 7 percent ahead of last year’s pace, with all loan types showing increases in purchase activity, as potential homebuyers shrugged off the current economic and mortgage rate uncertainties and returned to the market. "

May 08 2026

Mortgage applications declined last week, reversing some of the prior period’s gains as rates climbed to their highest level in a month. The Mortgage Bankers Association (MBA) reported a 4.4% decrease on a seasonally adjusted basis for the week ending May 1. The decline was broad-based, with both purchase and refinance activity moving lower. The Refinance Index fell 5% from the previous week but remained 29% higher than the same week one year ago. Meanwhile, the seasonally adjusted Purchase Index decreased 4% week over week and was still 5% above last year’s level. In the bigger picture, purchase apps remain closer to the highest levels of the past few years. The average 30-year fixed mortgage rate increased to 6.45% from 6.37%, marking the highest reading in a month and weighing on overall application volume. Higher borrowing costs, driven in part by ongoing geopolitical tensions, continue to limit refinance incentives while creating some hesitation among prospective buyers. MBA’s Joel Kan said, " Mortgage rates last week increased to their highest level in a month... elevated rates and shrinking refinance incentives continued to weigh on activity... The refinance share of applications was the lowest since August 2025. " Kan also noted that while purchase activity softened on a weekly basis, it remains above last year’s pace. The average purchase loan size rose to a record $467,300 , suggesting that higher-priced segments may be driving activity while some entry-level buyers hold back amid affordability pressures.