Mortgage Applications Today: New Homeowner Loan Demand Climbs to 3-Year High as Interest Rates Fall

Home loan applications jumped 9.2% from a week earlier, reaching the highest level in more than three years for the week ending Sept. 5, according to the Mortgage Bankers Association. These results include an adjustment for the Labor Day holiday.

The surge comes after mortgage interest rates slipped to an 11-month low. The average rate on a 30-year fixed home loan was 6.5% for the week ending Sept. 4, according to Freddie Mac. The rate was down from the prior week when it was 6.56%.

The Market Composite Index, a measure of mortgage loan application volume, saw a 9.2% increase on a seasonally adjusted basis from the previous week. On an unadjusted basis, the Index decreased 3% from a week ago.

The refinance index increased 12% from the previous week and was up 34% from the same period a year ago.

The seasonally adjusted purchase index grew 7% from a week earlier. The unadjusted purchase index decreased 6% compared with the previous week and was 23% higher than the same week one year ago.

The amount of homeowners refinancing swelled. The refinance share of mortgage activity increased to 48.8% of total applications from 46.9% the previous week. The adjustable-rate mortgage (ARM) share of activity increased to 9.2% of total applications.

The Federal Housing Administration (FHA) share of total applications decreased to 18.5% from 19.9% the week prior.

Veterans Affairs share of total applications increased to 15.3% from 13.8% the week prior. The USDA share of total applications increased to 0.6% from 0.5% the week prior.

"Mortgage rates declined for the second consecutive week as Treasury yields moved lower on data indicating that the labor market is weakening," said Joel Kan, MBA’s vice president and deputy chief economist. "The downward rate movement spurred the strongest week of borrower demand since 2022, with both purchase and refinance applications moving higher."

The economist added that purchase applications reached the highest level since July and continued to run more than 2% ahead of last year's pace.

Contract rates

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($806,500 or less) decreased to 6.49% from 6.64%, with points decreasing to 0.56 from 0.59 (including the origination fee) for 80% loan-to-value ratio (LTV) loans.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $806,500) decreased to 6.58% from 6.67%, with points decreasing to 0.39 from 0.44 (including the origination fee) for 80% LTV loans. The effective rate decreased from last week.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased again to 6.31% from 6.35%, with points decreasing to 0.74 from 0.80 (including the origination fee) for 80% LTV loans. The effective rate decreased from last week.

The average contract interest rate for 15-year fixed-rate mortgages decreased to 5.84% from 6.03%, with points increasing to 0.84 from 0.77 (including the origination fee) for 80% LTV loans. The effective rate decreased from last week.

The average contract interest rate for 5/1 ARMs decreased to 5.9% from 5.94%, with points decreasing to 0.34 from 0.68 (including the origination fee) for 80% LTV loans. The effective rate decreased from last week.

Mortgage rates calculated

Mortgage rates are calculated by various factors in the economy, and the length of your loan will also figure into the mortgage rate you qualify for.

The 30-year mortgage rate is tied to the yield of the 10-year Treasury note, according to Fannie Mae. As the yield on the 10-year Treasury note moves, mortgage rates follow.

The yield on the 10-year Treasury note is determined by expectations for shorter-term interest rates in the economy over the duration of a bond, plus a term premium.

Read more at Realtor.com

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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How to Use White in Your Home After Labor Day

If you think the rule of not wearing white after Labor Day still applies, think again.

It’s acceptable to not only continue wearing white after the beginning of September, but to also decorate your interior space with white.

Soft white accents

A neutral palette—any time of year—can instantly make your home brighter and more welcoming. If you still want to keep the autumn feel alive, add white gourds instead of orange. The options are endless for decorating with ivory and soft whites, making this the way to go for post-summer decorating.

Gallery wall

A black and white gallery wall could do wonders for your living room. It looks chic and clean, but still adds personality to the space. Stick with white frames with extra white space within the frame to keep the gallery wall minimalist.

Play around with textures

Too much white without texture can seem cold and boring. Research various wall textures to see if this is a viable option, or incorporate texture in other ways with throw pillows, accessories, and other decorative elements.

Don’t overdo it

It may seem impossible to overdo it with white—the most neutral color there is—but making your entire home white could have the opposite effect of cozy and lived-in. Still add splashes of color throughout your home, even if it’s just with centerpieces and other decor elements.

Read more at American Lifestyle

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Here's When Fall Foliage Will Peak This Year, According to the Old Farmer’s Almanac

One of the best parts of fall is seeing the leaves change color, encouraging you to soak up the remaining warmth and sunlight before winter arrives. But determining exactly when the leaves will start to change can be a real struggle.

If you live in Oregon, for example, you’re probably used to seeing the leaves drop towards the middle or end of October. But take a trip down to Florida in November, and you might be surprised to see that fall colors are just barely starting to show.

If you want to complete your dream fall foliage road trip, go sightseeing at a national park in autumn, or ensure you know exactly when you can expect changing leaves, you don’t have to leave it all up to guesswork.

The Old Farmer’s Almanac has released its predictions for peak fall foliage in every region of the U.S. in 2025—plus a few viewing tips that will help you make the most of the season.

West and Midwest

If you’re in the West or Midwest, you can expect fall colors to arrive (and depart) relatively early. Late September is when you’ll start to see fall colors appear, with the peak coming soon after. The Old Farmer’s Almanac estimates that October 4 will spell the end of fall for many areas in the West and Midwest, with leaves in some places already having entirely dropped by this date.

Over in the Pacific Northwest specifically, however, you’ll have a little bit longer to view fall colors. The Almanac predicts that this area will reach peak fall color around October 11.

Northeast

New England will enter peak fall color around October 11. This is one of the best fall foliage viewing locations in the entire U.S., so if you’re planning a nature-immersed fall road trip, early to mid-October is your best bet.

As for the rest of the Northeast, you’re likely to see peak colors anywhere from late September to the middle of October, based on the Old Farmer’s Almanac data collected in 2024. The top half of the U.S. tends to see fall foliage peak much faster than the lower half, so you can expect to enjoy some fall colors as early as the first week of September.

By the end of September, most of the region will be enjoying the fall foliage. During the last week of October, it’s likely that we’ll see the Northeast lose all of its fall colors.

Southwest

In the Southwest, fall colors typically begin in most areas around the end of October. In 2024, some areas of the Southwest experienced fall foliage a bit earlier, typically around the end of September or the beginning of October.

But states in the lower part of the U.S. generally see fall foliage peak in the later months, with a majority peaking during the last week of October and the first week of November in 2024. We can likely expect the same pattern to reappear this year.

Southeast

In the Southeast, fall colors really pick up in October, and in some areas, they will continue through the month of November. The Southeast tends to be one of the last regions in the U.S. to experience fall foliage, with some areas just starting to see fall color in November.

In some parts of Florida, fall foliage continued all the way into December in 2024. While it can’t predict precisely what will happen this year, the Old Farmer’s Almanac tends to notice similar fall foliage trends year after year. So, we can expect 2025’s fall foliage map to look similar to what we saw last year.

Fall Foliage Viewing Tips

Believe it or not, fall foliage at its finest only lasts from seven to 10 days. Of course, fall colors in one general area last longer than this, as each tree can start to change color and drop its leaves at different times.

That’s why it’s so important to keep an eye on the fall foliage map. This can help you pre-plan a day trip to your favorite hikes or viewpoints.

The Old Farmer’s Almanac has also estimated the peak leaf dates of a wide range of popular leaf-viewing spots. The list includes favorites like Acadia National Park, the Adirondack Mountains, Grand Teton National Park, and the Smoky Mountains.

And don’t forget that high winds can interrupt your leaf-viewing experience. During heavy winds or rain, trees can shed their leaves prematurely, which may alter your plans for viewing foliage.

Read more at Better Homes & Gardens

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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6 Home and Lifestyle Trends That Will Dominate This Fall

Pinterest is the go-to resource for home and lifestyle inspiration. It also serves as a crystal ball of sorts, predicting up-and-coming trends based on its users' interests. As summer comes to an end, the social media platform is offering a peek at autumn trends with its just-released fall report.

According to the findings, there is a powerful shift toward thrifting and sustainable shopping, with users curating unique spaces with pre-loved treasures.

"On Pinterest, we’ve seen searches for 'thrifted kitchen' jump more than 1,000 percent and 'thrifted décor' rise over 280 percent this year alone," says Sydney Stanback, global insights and trends lead for Pinterest. "Whether it’s a vintage lamp, a retro rug, or a perfectly worn-in dining set, these secondhand treasures bring instant character to a space while keeping both budget and planet in mind."

From blue ceramic backsplashes to 1920s-inspired interiors, we are highlighting the home and lifestyle trends that Pinterest users are currently searching for, and what you can expect to see this fall.

Statement Tiles

Statement tiles are having a major moment because they can transform a room without a full renovation, Stanback notes. Searches for "vintage tiles" have soared over 1,100 percent, and "accent tile behind stove" is up nearly 400 percent. Other popular terms include "terracotta tiles texture," "copper tiles bathroom," and "blue ceramic tile."

"Homeowners are using bold patterns, rich colors, and unique textures to turn everyday spaces—like a kitchen backsplash or a bathroom floor—into works of art. It’s a simple swap that makes the space feel instantly elevated and deeply personal," she adds.

Office Space Makeovers

Whether returning to the office or working from home, users are looking to infuse their workspaces with personal style. Searches for "green office aesthetic" and "luxe office" have increased by 1,065 percent and 2,766 percent, respectively.

Art Deco Decor

According to Stanback, Art Deco is making a glamorous comeback, but with a modern twist. Pinterest has seen interest in "Art Deco vintage" rise over 800 percent, with users gravitating toward statement lighting, geometric patterns, and luxe materials like brass and marble.

"Even small touches—a scalloped mirror, a velvet armchair, or a graphic wallpaper—can infuse a room with that signature 1920s elegance. It's all about mixing bold design elements with everyday comfort," she says.

Sweet Bread and Mini Bakes

When it comes to seasonal baking, Pinterest found that decorated sweet focaccia breads and mini bakes—think tiny cakes, brunch bites, and mini dessert buffets—will be popular this fall. Searches for "mini dessert ideas" and "mini egg cheesecake" were up 529 percent and 854 percent, respectively, while "lemon blueberry focaccia" rose 308 percent and "cinnamon focaccia" was up 562 percent.

"Mini bakes and sweet breads are perfect for intimate gatherings, gifting, or simply treating yourself without the fuss of a full-sized bake," Stanback says. "They’re charming, shareable, and make everyday moments feel a little more special."

Vintage Preppy Looks

According to the Pinterest data, preppy aesthetics are making a return, from classic navy stripes to Gen Z’s fresh take on Southern prep. Searches for "women's preppy outfits" were up a whopping 47,680 percent among all ages, while interest in "preppy vibes" was up 5,597 percent. Polka dots and 1960s baby doll glamour are also growing in popularity on Pinterest.

Autumnal Fragrances

As the weather cools, cozy layering extends to fragrances with warm, nostalgic scents like apple, vanilla, and caramel showing up as the season's must-haves. Pinterest found that searches for "vanilla scent aesthetic" were up 117 percent, and "layering scent combos" rose by 157 percent.

Read more at Martha Stewart

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Mortgage rates hit a new 2025 low after soft job openings report

Mortgage rates decreased slightly on Wednesday morning to a year-to-date low of 6.49% after the job openings data came in below expectations. The key takeaway from this BLS report is that we now have more unemployed workers than job openings. This is significant because the Federal Reserve has traditionally valued job openings data and has emphasized that there have always been more job openings than unemployed workers in the past.

On this news, the 10-year yield fell a few basis points and this is one of four labor reports we will get this week.

Job openings

From the BLS: The number of job openings was little changed at 7.2 million in July, the U.S. Bureau of Labor Statistics reported today. Over the month, both hires and total separations were unchanged at 5.3 million. Within separations, both quits (3.2 million) and layoffs and discharges (1.8 million) were unchanged.

I believe the Federal Reserve views this data positively because its primary goal is to reduce wage growth back to around 3%. They don’t have much faith in the productivity growth narrative, so achieving 3% wage growth with 1% productivity could help reach the 2% inflation target.

Now that there are more unemployed Americans than job openings, this situation should provide them with some reassurance. As shown below, the Fed has made significant progress in reducing job openings from nearly 12 million following the COVID recession to about 7.2 million.

Jobs week continues

We have several more important economic reports coming out this week, including the ADP jobs report, jobless claims report and the crucial monthly nonfarm payroll jobs report from the BLS on Friday. The previous BLS jobs report was significantly below expectations, so even a small improvement would be notable. I recently discussed how to approach jobs week in this episode of the HousingWire Daily podcast with Sarah Wheeler.

It’s been very hard for the 10-year yield to break under 4.18% and stick this year. The only way we did this was in the aftermath of the Godzilla tariffs, when stocks entered a brief bear market. So until we are able to do this, I wouldn’t get too excited about rates going much lower. Of course, mortgage rates are already near year-to-date lows because mortgage spreads are better in 2025 than in the past two years.

Conclusion

While today’s job openings report wasn’t terrible, it was soft enough to lower bond yields. This will be the last job openings report before the next Fed meeting and the Fed has emphasized this data point significantly over the years.

The labor market is not showing signs of breaking down, but it lacks a solid foundation, as manufacturing and residential jobs are currently being lost. Without the influx of AI-driven investment into the economy, the labor data would likely be in a worse state. We will see what the upcoming reports reveal, but beating the three-month average of 35,000 job growth this Friday shouldn’t be too difficult.

Read more at Housingwire

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• 7 Areas You’ll Be Glad You Cleaned Before Fall Starts

• From Frenzy to Breathing Room: Buyers Finally Have Time Again

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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