Key takeaways:
- The median purchase rate held steady at 6.125% in week 46, 2025.
- According to Mortgage News Daily, the avg. 30-year rate was 6.38% on November 17th.
- Purchase rate lock volume remains muted, down 23% from the same week in 2019, sharply below the 2020 & 2021 levels, and down 10% YoY.
- Preliminary YoY HPA was 1.5% in September 2025 and projected at 1.1%, 0.7%, and 0.2% for Oct. 2025, Nov. 2025, and the first two weeks of Dec. 2025, respectively.
- Projected YoY HPA has slowed to near zero, largely due to subdued purchase activity, relatively high rates and inventory, and a diminishing pool of well-qualified entry-level buyers.