From Yahoo Finance: 2025-04-17 12:40:00

Mortgage rates spiked to 6.83%, the biggest one-week jump since last August, as financial and economic uncertainty impact the housing market. The surge is linked to the 10-year U.S. Treasury note, which saw a sell-off due to tariff escalation, causing yields to rise.

D.R. Horton reported lower-than-expected quarterly earnings, citing cautious homebuyers due to affordability constraints and declining consumer confidence. The company sold 15% fewer homes than last year, with a significant drop in homes built for rental purposes.

Homebuilders broke ground on fewer homes in March than in February, with housing starts lower than expected. Economists note the importance of residential construction for employment and the economy. Rising mortgage rates present challenges for buyers, with concerns about the economy and cost of living affecting purchasing decisions.

Kara Ng from Zillow Home Loans highlights challenges for buyers due to the recent reversal in mortgage rates. Smaller stock portfolios may impact down payment affordability, while economic anxiety may lead to a ‘wait and see’ approach for significant purchases like homes. Buyers face uncertainties during the spring selling season.

Read more: Mortgage rates roar higher as uncertainty batters housing market