Mortgage rates are rising again, but homebuyers are trickling back
Mortgage rates rose last week after several weeks of declines. That took a toll on refinance demand, but homebuyers seem more resilient.
Last updated: 2026-04-29 13:52:11 ET
Pulse AI Brief
Updated Apr 29, 2026 1:10 PM ET
Mortgage rates climbed last week after several weeks of declines, dampening refinance demand but failing to deter homebuyers from re-entering the market. The divergence suggests buyers are accepting higher rates as the new normal and proceeding with purchases.
Housing stocks and mortgage lenders could see improved purchase volume offsetting refinance weakness. Homebuilders and real-estate services firms may benefit from renewed buyer activity, though higher rates will continue to pressure affordability and transaction sizes.
Buyer resilience at higher rates suggests the housing market is stabilizing despite Fed tightening, reducing recession risks tied to residential real estate.
Mortgage rates rose last week after several weeks of declines. That took a toll on refinance demand, but homebuyers seem more resilient.
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