Mortgage rates have ticked down, but not enough.

According to the Mortgage Bankers Association, the number of ARM applications jumped 25% last week, to their highest level in three years.

New research suggests people are getting used to high prices and mortgage rates.

The Federal Reserve has stayed the course, stalling rate cuts as they wait to see the impact of President Donald Trump’s Tariffs. Vivian Gueler, CFO of Pacific Trust Group, spoke about mortgage rate expectations for the coming year.

Homes are likely to remain expensive for the foreseeable future because of persistently high interest rates and the fact that homes are not being built fast enough to meet demand.

Spring housing supply is the highest in five years.

High home prices and mortgage rates are joined by plenty of economic uncertainty.

Four out of five prospective buyers won’t act until mortgage rates fall further, a recent U.S. News & World Report survey found.

The average 30-year fixed-rate mortgage shot up to nearly 8% in late 2023. It fell to just above 6% last fall, bounced back above 7% in mid-January, and declined again recently.

Tariffs and higher mortgage interest rates are at the top of the list.