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Following the recent report from the Mortgage Bankers Association (MBA), alarms are sounding over a new increase in mortgage rates. According to the agency, the average rate for 30-year fixed mortgages reached 6.65%.
This is the highest level since August 2025 in a context marked by inflation that speeds up and slows down, uncertainty about the economic future, and tension in international markets due to geopolitical conflicts.
The worst news was confirmed: Why are mortgage applications down 8.5%?
According to the MBA, mortgage applications fell 8.5% in just one week. At the same time, several experts warn that accessing homeownership is becoming increasingly difficult in the United States, particularly for first-time buyers.
This increase is directly related to the rise in U.S. Treasury yields and expectations of rising inflation. With a year-over-year cumulative change of 3.8% according to the latest report from the Bureau of Labour Statistics (BLS) in April 2026, it was to be expected that the figures would also impact the real estate market.
Refinancings, for their part, fell 17.3%, while applications to buy a home saw a 2.6% decline. This reflects the deterioration and lower affordability for millions of American families that depend on this financing to achieve the dream of homeownership.
Fewer and fewer families are able to access a home: How does the U.S. housing crisis develop?
Added to the context of rising mortgage rates is also the shortage of available homes. This happens because many owners keep their houses since they have older mortgages with rates below 5% and do not want to sell, losing those favorable terms.
This reduces the number of homes on the market and keeps prices high even though there are not so many buyers in the market. According to the joint monthly release from the Department of Housing and Urban Development (HUD) and the Census Bureau, home sales fell 6.2% in April compared with March. As for the year-over-year decline, it was 11.3%.