Hasta La Vista, High Interest Rates? Homebuyers Defy Economic Doom!

Judgment Day for Interest Rates?

Alright listen up. Sarah Connor here. I've seen some things things you people wouldn't believe. Terminators apocalypses the works. But even I gotta admit this housing market is a real head scratcher. Apparently despite the world going to hell in a handbasket – tariffs economic mumbo jumbo the whole shebang – people are actually buying houses. Mortgage applications? UP! Two weeks in a row no less. It's like they haven't heard the machines are coming or maybe they just need a solid roof over their heads when the T 1000 comes knocking.

6.86%? I've Dealt With Worse!

The suits at the Mortgage Bankers Association (MBA) are saying total mortgage application volume rose 1.1% last week. The average interest rate on a 30 year fixed? A measly 6.86%. Back in my day you’d be lucky to get a rate that low while running from a cyborg! Seriously though it’s up slightly but apparently it's not scaring off potential homeowners. Maybe they're all just Terminators in disguise immune to financial pressure. Or maybe just maybe they see something I don't…

I'll Be Back... To Close on This House!

Purchase applications are up 2% for the week and a whopping 18% from last year. That's right. People are throwing caution to the wind and taking the plunge. Michael Fratantoni some MBA bigwig says it's because there are more houses available. More supply means more choices unlike the last two years when it was drier than the machines sense of humor. Makes sense I guess. Can't fight the future from the streets you need a home base!

Government Loans: The Resistance's Best Friend

And get this – government purchase applications are through the roof up nearly 5% for the week and 40% year over year! Looks like the first time homebuyers the little guys are getting a shot with those low down payment options. Good for them. Every little bit helps when you’re fighting the system whether it's Skynet or… well you know *the man*.

New Listings? Not on My Watch!

Redfin says active listings are up 14% compared to last year and new listings are up 5.5%. Seems like the market is finally catching up which is a good thing. Keeps things from getting too crazy. You know like a time traveling robot assassin trying to kill your unborn son. Relatively speaking of course.

Refinance? Not Today Skynet!

Refinance applications are down slightly but still way up from last year. People are still trying to make the most of the situation but fewer are going that route for now. Me? I'm not refinancing anything. I'm too busy preparing for the inevitable. But hey to each their own. Just remember there is no fate but what we make for ourselves... and maybe shop around for a good rate while you're at it.