The average 30-year fixed mortgage rate for conforming loans (up to $832,750) fell to 7.37% from 7.41%, and total mortgage applications rose 3.4% last week, according to the Mortgage Bankers Association. Refinance applications were still 61% lower than a year earlier, as about half of borrowers have rates below 4%, while purchase applications rose 4% but were 18% below last year. The ARM share of applications climbed to 11.3%, the highest in more than a year, and the 5/1 ARM rate eased to 6.41%; ARMs are seen as riskier because they adjust to market rates when the fixed term ends. Potential buyers remain worried about the broader economy, and some agents say buyers are waiting for the midterm election results.
Summary written by Upside AI from the original article. Read the source for full details.
Keywords
interest ratesmortgageshousingUS
Open a keyword to see other news on the same topic.
Related tickers and likely impact
DXY
• NeutralRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/27/2026 | 102.37 |
| Change that session | +0.35% |
SPY
• NeutralSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/27/2026 | 769.72 |
| Change that session | +0.57% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- THU AM News : September home sales decline amid rising mortgage rates ; DOJ part of coalition suing to block manufacturer acquisition
Wisconsin home sales fell 2.4% year over year to 6,284 in September as the average 30-year mortgage rate rose to 6.86%, its highest since January 2025, according to the Wisconsin Realtors Association. Listings rose 3.8%, but new listings fell 5.1% and affordability dropped 5.5%, while the median price rose 1.5% to $342,000. Separately, the Wisconsin DOJ joined the FTC and 11 other states in suing to block North Carolina-based PlayPower from acquiring Wisconsin-based BCI Burke, arguing the deal would raise prices and reduce innovation. The lawsuit says the two firms compete directly on price, lead times and quality, and that five companies, including both, hold up to 90% of the domestic market. The companies did not immediately respond to requests for comment.
- Rising costs and high rates threaten to keep US homebuilding in a slump
High interest rates, rising material costs and labor shortages are holding back US homebuilding, threatening to prolong the country's housing shortage. A Realtor.com analysis found the U.S. was short more than 4 million homes by the end of 2025. The NAHB/Wells Fargo Housing Index, which gauges builder confidence, fell to 29 in October, where readings above 50 mean more builders see conditions as good than poor. The average 30-year mortgage rate climbed to 7.4% this month, the highest since November 2023, and 43% of builders cut prices in October, the most since 2020. Single-family starts fell 4.6% in September from August and are down 4% so far in 2026.
- Housing Market Warning as Builder Confidence Plunges to 14 - Year Low
U.S. homebuilders are growing more pessimistic as high mortgage rates and rising fuel costs keep demand weak and new inventory stagnates, forcing them to cut prices and offer incentives. The NAHB/Wells Fargo Housing Market Index fell three points to 29 in October, its lowest since June 2012, with 43% of builders cutting prices and 65% offering sales incentives. The 30-year fixed mortgage averaged 7.40% in the week ending October 15, up from 6.27% a year earlier, while diesel has nearly doubled to $6.32 per gallon. Census Bureau data released October 20 showed housing starts down 5.2% from the previous month and 7.4% from a year earlier, while completions fell 14% year over year. Realtor.com economist Joel Berner said the market is not conducive to building right now, though the resilience of new permits suggests builders view these conditions as temporary.
- Mortgage rates drop for the first time in 2 months, but demand still falls further
Total mortgage application volume fell 5.3% last week from the previous week, according to the Mortgage Bankers Association, even as the average 30-year fixed rate dropped to 7.41% from 7.50%, the first decrease in over two months. Lower rates did not lift activity: refinance applications fell 2% week over week but were 59% below a year earlier, while purchase applications dropped 7% weekly and 18% year over year. The ARM share held at 10.5%, with ARM rates almost a full percentage point below the 30-year fixed rate. A separate Mortgage News Daily survey showed rates barely moved early this week, and its chief operating officer cautioned against relying on the oil price correlation, which has been unreliable for more than a month.
- US single - family housing starts , building permits tumble in September – Taylorville Daily News
U.S. single-family housing starts fell 4.6% to a seasonally adjusted annual rate of 859,000 units in September, while single-family building permits dropped 4.0% to 845,000 units, according to the Census Bureau. Mortgage rates surged, with the 30-year fixed rate averaging 7.40% last week, the highest in nearly three years, as Treasury yields rose on inflation fears tied to the US-Israeli war with Iran. The National Association of Home Builders reported that builder sentiment in October fell to its lowest level since June 2012, citing higher material costs, mortgage rates, pricier diesel, and worsening labor conditions from an immigration crackdown. Slumping sales have left a glut of unsold homes, reducing incentives for developers to start new projects, although a national housing shortage keeps home prices elevated.
- September data shows housing market in a deep freeze
Rising mortgage rates took a harsh toll on the housing market in September. Pending home sales, which measure signed contracts on existing homes, fell 7.3% from August and 11.3% year over year, according to the National Association of Realtors. The average 30-year fixed mortgage rate climbed from about 6.8% to 7.6% during the month, and sales fell most sharply in the South (-8.2%) and West (-9.2%). Housing starts dropped 4.56% to 859,000 annualized, the lowest since September 2025, and building permits fell 4%. Homebuilder sentiment in October hit its lowest level in 14 years, and economists expect construction to stay weak into 2027.
Related markets
Latest news
- How Anthropic's IPO structure could become the AI blueprint
Alex Morris, CEO and CIO of F/m Investments, discussed with Yahoo Finance's Brooke DiPalma what Anthropic's IPO could mean for the broader AI landscape. He said the company's revenue is not where a multi-trillion-dollar company would be expected, but it is selling a promise of the future, and its filing discusses potential existential risks to humanity. Wall Street will focus on the new governance structure, in which seven people would have power to largely control and appoint the board of trustees, a setup he called novel despite Google's different voting rights. He also flagged financing risk, more for Nvidia than Meta, as Meta announced a $100 billion share sale to fund AI. He said Anthropic is very likely to be substantially oversubscribed.
- US warns of possible military action against Iran after Nov. 3
According to the Wall Street Journal, the US has told some Gulf Arab states to prepare for a short, intense military campaign after the midterm elections, and the Pentagon is evacuating US personnel from Middle East bases where they could be at risk. President Donald Trump has not made a final decision but is leaning toward a large-scale strike that could target Iran's infrastructure and nuclear facilities. Meanwhile, Supreme Leader Mojtaba Khamenei called for meeting Iran's conditions to end the war and the state of “no war, no peace,” and discussed with Supreme National Security Council Secretary Mohsen Rezaei maintaining control of the Strait of Hormuz. The US and Israel attacked Iran from Feb. 28; after a June ceasefire memorandum, the US resumed large-scale strikes on the night of July 8, accusing Tehran of violating the Hormuz terms. The strait carries about 25% of global oil and about 20% of global LNG.
- Here Are Wednesday’s Top Wall Street Analyst Research Calls: Enphase Energy, F5, Marvell Technology, MSG Rangers, Pentair, Silicon Motion Technology, Spotify Technology, Texas Instruments, Whirlpool, and More
The roundup covers Wednesday's analyst calls ahead of the Fed's 2:30 p.m. rate decision and Alphabet and Microsoft earnings. The Nasdaq rose 1.18% to 26,477, the S&P 500 closed at 4,722, and the Anthropic IPO could come as early as the week of November 16. Jefferies upgraded Chemed to Buy from Hold with a $620 target, while Oppenheimer downgraded Enphase Energy to Perform from Outperform and President Capital Management cut Spotify to Neutral from Buy with a $608 target. The 30-year Treasury yield closed at 5.31%, and Brent crude closed at $114.30 after a second straight day of declines.
- Dissent and more: 3 things to watch for at the Fed meeting
The Fed will announce its rate decision at 2 p.m. ET, with Chair Kevin Warsh's press conference half an hour later. The FOMC is expected to hold the benchmark rate at 3.75%–4%; if three or more voting members favored a hike, it would signal growing urgency to tighten, potentially bolstering the Dollar Index and weighing on bitcoin. The 10-year Treasury yield has fallen to 5%, down 36 basis points since Oct. 7, easing financial conditions. Consumer price inflation has exceeded expectations for two straight months, oil remains near $100, and U.S. diesel prices are at record highs, so Warsh's comments on inflation will be closely watched. Bitcoin was trading at $81,411, up more than 2% over 24 hours, ahead of the meeting.
- XRP Ledger developers propose creating wallets with zero XRP for stablecoin payments
XRP Ledger developers are testing a SponsoredAccountCreate transaction, submitted Oct. 15, that lets an existing account create a new account and cover its reserve, so new wallets can hold zero XRP. Each account currently must lock a minimum of 1 XRP, so a company creating 100,000 accounts would need 100,000 XRP; under the proposal, the sponsor would pay this reserve without controlling users' private keys and could also cover transaction fees. The change would support Ripple's embedded wallets built with Stripe-owned Privy for XRP and RLUSD payments, including AI-agent payments, which currently need XRP funding to become active. The code remains under review with two unresolved automated findings and depends on a sponsorship amendment that had secured 11 of the 29 validator votes required as of Oct. 19.
- 'We'll be out of business': Jensen Huang bet his last dollars on a chip he never held in his hands — and it saved Nvidia
In 1997, with about six months of cash left, Nvidia ordered mass production of the RIVA 128 graphics chip, which had never existed physically and had been tested only in an emulator. To get that tool, the company bought the inventory of a struggling emulator seller with about half of its remaining cash, and it laid off more than half its staff, cutting headcount from about 100 to 40, while receiving a $5 million investment from Sega. The chip shipped in August 1997 supporting only eight of Microsoft DirectX's 32 blend modes, and sold roughly a million units in its first four months, paving the way for the 1999 IPO. Nvidia was worth about $1.1 trillion when the Acquired podcast was recorded in 2023 and is now around $5.3 trillion. The stock has risen about 880% over five years, versus about 70% for the S&P 500, but shares slipped slightly after an 85% year-over-year revenue jump in its fiscal first-quarter 2027 earnings.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.