Housing Market Tracker
Your weekly snapshot of U.S. housing trends from Lead Analyst Logan Mohtashami, with expert analysis and real-time charts on key market indicators.
Have Fed rate cuts already been priced into mortgage rates?
Last week, mortgage rates hit a new low for 2025, as the labor market proved more critical to the bond market than inflation. The big question is: what will happen after the Fed cu
Charts
10-year Treasury yield
The 10-year Treasury yield shows the return investors earn from holding U.S. government debt for 10 years. It’s a key indicator of economic sentiment and a major driver of mortgage rate trends.
Mortgage Purchase Applications Index
The Mortgage Purchase Applications Index tracks the number of mortgage loan applications for home purchases across the U.S. It serves as a leading indicator of housing market activity, offering insights into trends in buyer demand and overall market conditions.
National Single Family Inventory
The National Single Family Inventory chart tracks the total number of single-family homes for sale across the U.S., providing a clear snapshot of housing supply trends over time. This data helps industry professionals, buyers, and sellers understand market conditions, inventory shifts, and potential pricing impacts.
Jobless Claims
Jobless claims, a leading labor market indicator, tracks the number of individuals filing for unemployment benefits. This data is closely watched by the bond market and the Federal Reserve, as shifts in employment trends can influence mortgage rates and housing market stability.
New Listings
Weekly new single-family home listings in the U.S. reflect the pace of housing supply entering the market. Tracking this data helps identify shifts in seller activity, inventory trends and overall housing market conditions.
Price Reductions
The percent of U.S. homes with recent price reductions tracks the share of active listings that cut prices each week. It’s a key housing market indicator, revealing how sellers are responding to buyer demand, inventory levels, and mortgage rate pressure.
Pending Home Sales
Total pending home sales offer a real-time view into buyer demand, showing how many homes are under contract across the U.S. each week. This number signals market activity and buyer engagement, making it a key indicator of housing demand and future sales.
30-Year Mortgage vs 10-Year Treasury Spread
This chart illustrates the spread between the 30-year fixed mortgage rate and the 10-year Treasury yield — a key indicator of mortgage market risk and lender sentiment. Tracking this spread helps reveal shifts in borrowing costs and market confidence — wider spreads often mean higher risk and reduced affordability.
*Updated weekly, these charts highlight the key market indicators that Lead Analyst Logan Mohtashami uses in his Housing Market Tracker to explain current trends and anticipate what’s next.
All Housing Market Tracker Articles
Have Fed rate cuts already been priced into mortgage rates?
Last week, mortgage rates hit a new low for 2025, as the labor market proved more critical to the bond market than inflation. The big question is: what will happen after the Fed cu
Can mortgage rates get below 6% with this Federal Reserve?
Mortgage rates dropped to 6.29% last week after the jobs report, but economic factors can only do so much without help from the Fed.
Lower mortgage rates pushed inventory lower in August
Year-over-year inventory growth has dropped from recent highs of 33% to 22%, despite mortgage rates not yet approaching 6%.
Where do mortgage rates go from here?
Mortgage rates reached a new year-to-date low Friday. Does that mean mortgage rates can go even lower from here?
Mortgage spreads cushion mortgage rates against warm inflation data
Inflation data was warm last week, but mortgage rates remain near their lowest levels for 2025 because of mortgage spreads.
Did lower mortgage rates already lower housing inventory?
Last week we saw an actual decline in inventory week to week, which is rare for this time of year compared to recent years.
How much lower can mortgage rates go after Friday’s jobs report?
Mortgage rates fell 0.18% last week, breaking below the key threshold of 6.64%. How much lower can they go?
Housing inventory growth is starting to stall
Housing inventory rose to 860,426 last week, but that growth is starting to stall out as we head into August.
Mortgage spreads are almost back to normal
In a week marked by wild headlines, mortgage rates remained relatively calm, thanks to improvements in mortgage spreads.
Housing inventory actually fell last week. What is going on?
The Housing Market Tracker shows housing inventory decreased last week, while purchase application data grew 25% year-over-year.
Why mortgage purchase apps are on a 22-week growth streak
Purchase apps for existing homes have had 22 weeks of year-over-year growth, including nine weeks of double-digit year-over-year growth.
Have slightly lower mortgage rates stabilized the housing market?
With all the Fed drama last week, the 10-year yield declined and mortgage rates fell to 6.72%. This small move helped stabilize the market.
Homebuyers finally catch a break with more inventory
Homebuyers are finally getting some good news: Active housing inventory is returning to the levels we experienced before the pandemic.
New listings slowdown shows lack of home seller stress in 2025
during the years of the housing bubble crash, new listings were soaring between 250,000 and 400,000 per week for many years.
Elevated mortgage rates aren’t discouraging homebuyers
Housing demand continues to hold up despite elevated mortgage rates, trade war uncertainty and terrible consumer confidence data.
