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Home/Real Estate/30-YEAR MORTGAGE RATE · SOFI

Rising mortgage rates push US existing home sales to nine-month low

PW

Phoenix Weston

30-year mortgage rate · Apr 14, 2026

Rising mortgage rates push US existing home sales to nine-month low

Source: DojiDoji Data Terminal

Existing home sales in the United States declined 3.6% in March to a seasonally adjusted annual rate of 3.98 million units. This is the lowest level of sales activity since mid-2025, marking a nine-month low.

Related Brief3d ago
mortgage rates

Middle East Ceasefire Cuts Monthly Mortgage Payments by $120

A borrower with a $400,000 loan saves $120 a month on a current 30-year fixed mortgage. This decline follows five straight increases that had pushed rates to their highest level in nearly seven months. The average 30-year fixed mortgage rate dropped to 6.37% from 6.46%, according to Freddie Mac. These shifts were driven by an easing in bond yields. The 10-year U.S. Treasury yield dropped to 4.23% from 4.3% a week ago. Bond yields eased after the U.S. and Iran agreed to a two-week ceasefire. West Texas Intermediate crude oil prices plunged 18% to $92 a barrel on the news, while Brent crude oil prices fell from a late March peak of $115.85 a barrel to around $90 a barrel.

Borrowing costs for homebuyers have increased as mortgage rates track movements in US Treasury yields. The national average on a 30-year fixed-rate mortgage is 6.40%, up from 5.98% prior to the escalation of geopolitical tensions involving the United States and Iran.

Related Brief7h ago
real estate

Existing Home Sales Drop 3.6% as Mortgage Rates Hold Prices at Record Highs

The median existing-home price rose 1.4% year-over-year to $408,800, reaching a record high for March. This price support is driven by limited supply, as housing inventory remains below historical norms despite a 3.0% increase from February to 1.36 million units. Existing-home sales declined 3.6% month-over-month in March in a seasonally adjusted annual rate of 3.98 million units. Sales also fell 1% from a year earlier. Potential buyers were kept on the sidelines by elevated mortgage rates, which rose in recent weeks amid inflation concerns and geopolitical tensions that pushed energy prices higher. The median existing-home price reached a record high for March.

Inflation concerns and the war in Iran, which pushed up energy prices, contributed to the average 30-year fixed mortgage rate's climb. In March, consumer prices rose 3.3% year over year, a jump from February's 2.4% reading.

Related Brief19h ago
housing market

Higher mortgage rates push first-time buyers to record age of 40

The median age of first-time home buyers has reached 40, a record high, as rising mortgage rates and tight supply push ownership further out of reach. The average 30-year fixed-rate mortgage climbed to 6.18% in March, up from 6.05% the month before, adding hundreds of dollars in monthly payments for would-be buyers. That increase helped drive existing home sales down 3.6% in March to a seasonally adjusted annual rate of 3.98 million, according to the National Association of Realtors. Sales are now 1% below last year’s pace. The group has slashed its 2026 forecast for existing home sales to a 4% increase, down sharply from the 14% gain it projected late last year. Tight inventory and rising borrowing costs are delaying homeownership for a generation of buyers.

Until there is a clearer picture of how current turmoil will play out in the economy, the Federal Reserve has kept the federal-funds rate steady for the second time in 2026.

Related Brief1d ago
mortgage rates

Weekly Mortgage Rate Drop Lowers Homebuyer Monthly Payments

Monthly payment burdens for homebuyers have eased following a seven basis point decrease in the 30-year fixed mortgage rate over the past week. The rate now stands at 6.15%.

Existing home sales fell below market expectations and activity weakened across all four major US regions. Despite a modest 2.3% annual rise in inventory to 1.36 million units, the current pace of sales represents approximately 4.1 months of supply, which remains significantly below pre-pandemic levels.

Related Brief3d ago
mortgage rates

Treasury Yield Dip Pulls 30-Year Fixed Mortgage Rates to 6.15%

The 30-year fixed mortgage rate has fallen to 6.15%, according to Zillow. This decrease follows a dip in the 10-year Treasury yield, which reached 4.29%. The yield movement was driven by a reduction in concerns regarding overseas conflicts and oil prices.

Existing home sales hit a nine-month low.

Related Brief14h ago
mortgage rates

Oil Trade Disruptions Push 30-Year Mortgage Rates Higher

The average 30-year fixed mortgage rate reached 6.24% as of April 13, 2026. This follows a climb of over 40 basis points by the end of March. The increase was driven by a conflict with Iran that began in February, which halted oil trade and sent 10-year Treasury bond yields climbing.

30-year mortgage rateSoFihousing inventory shortage

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