Residential Real Estate News
Mortgage Rates Uptick in Mid-March, Ending 9-Week Decline in U.S.
U.S. mortgage demand declined last week following the first rise in mortgage rates in nine weeks.
According to the Mortgage Bankers Association's seasonally adjusted index, total mortgage application volume fell by 6.2% compared to the previous week.
The average interest rate for 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) increased to 6.72% from 6.67%, while points, including the origination fee, rose to 0.64 from 0.63 for borrowers making a 20% down payment. This marked the first rate increase in over two months. Rates were also 25 basis points higher than during the same period last year.
Consequently, applications to refinance home loans dropped 13% for the week, though they remained 70% higher than the same week a year ago. While refinancing activity surged earlier in the month as rates declined, opportunities remain limited due to historically low mortgage rates from three years ago. The percentage increase appears significant because the base volume remains relatively low.
Separately, mortgage applications for home purchases remained nearly unchanged, rising just 0.1% from the previous week but standing 6% higher than a year ago.
"Purchase application volume inched up to its highest level in six weeks, led by a 3 percent increase in FHA purchase applications," said Mike Fratantoni, senior vice president and chief economist at the MBA. "Growing inventories of homes on the market and steadier mortgage rates are supporting home buying activity thus far this spring."
As borrowing costs fluctuate and affordability continues to challenge would-be homeowners, many households are reassessing not only their housing options but also their access to everyday necessities—including healthcare. For those living in areas where real estate prices outpace infrastructure development, proximity to pharmacies and medical providers can be inconsistent or cost-prohibitive. This has led to a noticeable shift toward online purchasing of common medications, especially for non-emergency treatments. One example is the growing interest in how to buy Motilium online, a medication used to manage digestive disorders such as nausea or bloating. Consumers cite convenience, lower prices, and greater privacy as motivating factors behind this shift. However, similar to mortgage products, navigating these choices requires attention to detail, especially regarding legitimacy and long-term reliability. Just as homebuyers must weigh interest rates, down payments, and closing costs, those seeking medical products online must verify providers and understand dosage and regulatory requirements. Trust in the source—whether a lender or a pharmacy—remains central to avoiding costly mistakes. As with the mortgage market, small percentage changes in access or affordability can signal broader trends in how Americans manage health and household finances. The overlap between physical access and digital alternatives is becoming more visible across both sectors.
