MCT Realty

My Homes Value?

For us realtors, it's the same question...How is the market? Where will it be in a couple months?

There is always a different answer as the market is in a constant flux depending on inventory and interest rates. With a consistently low inventory this year the home sale prices have increased but with the higher interest rates, they are being brought back down. An easy rule of thumb is that with every 1% of interest rate hike one's buying power decreases by 10%. And yes, this does have an impact on the market value and affordability of homes.

For a FREE personal in-home consultation, to help you decide if now is a good time to make a move, call the experts at MCT Realty, 314-3933-2872, we are here to help you every step of the way!

Open House TODAY! 2pm-4pm!
4160 Winwood Circle, 63069
Rockwood Schools!

4160 Winwood Cir, Pacific, MO 63069 | Zillow Media Experts View this amazing property, images, and listing information.

New Listing! Rockwood Schools! Open this Sunday, 2-4pm! Your own oasis with 5+ wooded acres in private subdivision with pool and view of lake!

4160 Winwood Cir, Pacific, MO 63069 | Zillow Media Experts View this amazing property, images, and listing information.

Mortgage demand slows for third straight week

Elevated rates are weighing on buyers and refinancers
Key takeaways:
• Mortgage applications fell 2.5% in the week ended Friday, marking a third straight weekly decline, according to the Mortgage Bankers Association.
• Ongoing geopolitical uncertainty—especially tied to the war in Iran—has pushed the 30-year fixed mortgage rate to its highest weekly average of 2026, sidelining borrowers.
• Although demand remains higher than a year ago, elevated borrowing costs and tighter household budgets are limiting affordability, according to Brad Case, Homes.com chief residential economist.

Mortgage borrower demand has weakened further amid persistent market uncertainty.

In the week ended Friday, mortgage applications fell 2.5% compared to a week earlier after an adjustment for the Memorial Day holiday, according to data released Wednesday by the Mortgage Bankers Association. It's the third consecutive week that the measure has decreased.

That overall decline was driven by a 2% decrease in refinance activity, marking the softest week of demand since June 2025. Similarly, purchase applications fell 3%, falling to the slowest pace since April.

Even so, both refinances and purchases continue to outpace last year's demand when mortgage rates were roughly 30 basis points higher.

War-driven uncertainty continues to hamper the mortgage market
The slowdown is just the latest sign of how economic and geopolitical uncertainty — mostly driven by the war in Iran — is unsettling the mortgage market.

The 30-year, fixed-rate mortgage is sitting at its highest weekly average of 2026 after rapidly climbing roughly 20 basis points in May.

That run-up was mostly caused by back-and-forth on peace negotiations in the Middle East and the resulting continued upward pressure on energy prices.

There are emerging signs that the recent increases in that average could be slowing — daily mortgage rates, for example, have eased in recent days — but it's likely that, at least in the short term, rates will remain elevated.

That's expected to keep borrower activity muted, according to Brad Case, chief residential economist for Homes.com.
"At today’s rates, buyers have less room for rising insurance premiums, higher grocery bills or increased commuting costs, so when their disposable income dips even slightly, it doesn’t just dent their confidence — it directly limits how much house a buyer can comfortably afford," he wrote in an analysis. – Moira Ritter, Homes.com

Open House today....Noon to 2pm
Lindbergh Schools, 4bd-2bth, Ranch

9616 Yorkshire Estates Drive, Crestwood, MO, 63126 Step into a flawlessly updated, move-in-ready sanctuary i...

Move in ready Home / Farm on 30+acres!

308 Buck Creek Rd, Silex, MO 63377 | Zillow Media Experts View this amazing property, images, and listing information.

Coming Soon! Lindbergh Schools!

9616 Yorkshire Estates Dr, St. Louis, MO 63126 | Zillow Media Experts View this amazing property, images, and listing information.

Closing Day!