Mortgage rates and demand seem stuck in a holding pattern, as markets await tariff news

by anastasiakaufman-chime-me

Published Wed, Apr 2 20257:00 AM EDTUpdated Wed, Apr 2 20257:14 AM EDT

PASADENA, CALIFORNIA - MARCH 05: A 'For Sale' sign is posted in front of a home for sale on March 05, 2025 in Pasadena, California. The average 30-year fixed mortgage rate is down to 6.19 percent, the lowest rate since October. (Photo by Mario Tama/Getty Images) — A ‘For Sale’ sign is posted in front of a home for sale on March 5, 2025 in Pasadena, California. Mario Tama | Getty Images

Mortgage rates have barely budged in the last month. That, and a broader concern among consumers about the state of the economy, has also kept mortgage demand muted.

Total mortgage application volume dropped 1.6% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.

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