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Mortgage applications rose for the fourth straight week as homebuyers and refinancers rushed to lock in rates near their lowest levels in three years.

Applications were up 3.2% for the week ending March 6, according to the Mortgage Bankers Association. Purchase applications jumped 7.8% from the prior week and were 11% higher than a year ago. Refinance applications were up 81% year over year.

The average 30-year fixed rate sits at 6%, down sharply from 6.63% a year ago and just above the recent low of 5.98%, the lowest rate since September 2022.

Homebuilders are slashing prices at the highest rate in 3 years More homebuilders are cutting prices as interest rates remain stubbornly high, and potential buyers pull back over concerns in the economy.

Treasury yields slide as ADP payrolls fall to lowest in more than two years Treasury yields dropped Wednesday after ADP said payroll growth was the weakest in more than two years, Trump urged a Fed rate cut and 50% steel tariffs began.

Mortgage rates cross back over 7% after U.S. credit downgrade The rate on the 30-year fixed mortgage crossed 7%, hitting its highest level since April 11.

March home sales drop to their slowest pace since 2009 Home sales in March were weaker than expected, due to higher mortgage rates and concern over the broader economy.

10-year Treasury yield spikes higher as Trump tariffs continue to rattle markets U.S. Treasury yields surged Wednesday as U.S. President Donald Trump's tariffs regime continued to rattle markets.

10-year Treasury yield falls to lowest level since October after Trump unveils sweeping tariffs U.S. Treasury yields were lower on Thursday after President Donald Trump's aggressive "reciprocal tariff" policy announcement.