Here is your real estate news for Tuesday, June 17, 2025:
Top Real Estate News (June 17th, 2025):
Mortgage Demand for New Homes Dips Amid Affordability Hurdles: Demand for new construction homes has softened, with mortgage applications for new purchases falling by 4.5% in May compared to the same month last year, according to a report from the Mortgage Bankers Association (MBA).
Commercial and Multifamily Sectors Show Increased Debt: In a contrasting trend, the total outstanding mortgage debt for commercial and multifamily properties saw a $46.8 billion increase in the first quarter of 2025.
Hyper-Local Investment Continues with Focus on Sun Belt: Underscoring a theme of targeted investment, Kolter Multifamily has broken ground on a new 276-unit apartment community in Palmetto, Florida.
Mortgage Rates (June 17th, 2025):
Mortgage rates have ticked up slightly to begin the week, continuing to hover just below the 7% mark and impacting buyer affordability.
- 30-Year Fixed: 6.94% (up from ~6.89% a week ago)
- 15-Year Fixed: 6.10% (up from ~6.06% a week ago)
- Jumbo 30-Year Fixed: 6.97% (up from ~6.89% a week ago)
- 10-Year Treasury Yield: 4.46% (as of June 16th)
Thanks for reading,
Chris
