SEPTEMBER 18, 2025, EDITION

Mortgage Bankers Association (MBA) data revealed demand for purchase mortgages surged last week to the highest level since July, 23% ahead of a year ago—the strongest annual growth rate in over four years.

Realtor.com noted that both the median listing price and price per square foot fell last week—the first annual drop in listing prices since the spring, and in price per square foot in two years, as sellers adjust expectations.

The Census Bureau reports builders got busier in July. Spending on residential construction came in a tick above June’s numbers, including a welcome gain in spending on single-family homes. 

Realtor.com’s chief economist: “the national housing market is now more balanced between homebuyers and sellers at five months’ supply,” but she cautioned, “local conditions…are what matter most” for buyers and sellers.

The MBA notes, “Affordability conditions have now improved for two consecutive months,” as the national median monthly payment on purchase mortgage applications dropped below where it was a year ago.

Attom Data reported that mortgage activity in April, May, and June showed “a typical spring bounce.” Total activity increased in 201 of 212 metros, with purchase mortgage activity improving in 97% of the metros tracked.

DID YOU KNOW?… National Association of Home Builders data revealed 2 out of 3 builders offered sales incentives in August—the most so far this year and the highest percentage in 5 years—with 40% doing price cuts.

Freddie Mac’s latest Mortgage Market Survey reported the national average 30-year fixed mortgage rate “fell 15 basis points…the largest weekly drop in the past year.” Remember, mortgage rates can be extremely volatile, so check with your mortgage professional for up-to-the-minute information. 

Mortgage rates have come down from where they were just a few months ago. That means you could now have either a more affordable monthly payment, or be able to get more home for the same payment. So find out where you stand now—check with your lender or ask us put you in touch with one.

Make sure to do a fall cleanup in the yard, and on walkways, decks, and patios. See that your plants still look pruned and healthy. Remember, buyers get their first impression of your home before they even walk into it—so, that’s your first opportunity to capture their interest.