Monthly Housing Costs Hit Record High Again -- Market Talk

Dow Jones2025-04-03

1006 ET - The typical U.S. homebuyer's monthly payment hit a record for the second week in a row, reaching $2,802 during the four weeks ending March 30, Redfin says. Sale prices are up 3.4% year-over-year, and the weekly average mortgage rate is 6.65%, near its lowest level since December. Pending home sales are declining. High costs are keeping a lid on sales; pending home sales fell 2.3% year over year. But there are signs more house hunters are getting out there. Mortgage-purchase applications are at their highest level in over two months, and home tours are rising twice as fast this year than they were at this time last year--though that's partly because Easter fell into last year's comparable period. New listings of homes for sale rose 12.7% year-over-year, the biggest increase in 11 months.(chris.wack@wsj.com)

(END) Dow Jones Newswires

April 03, 2025 10:06 ET (14:06 GMT)

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