The move was widely anticipated and is expected to be followed by additional cuts this year. 

The jump in mortgage activity was driven in large part by refinancings, which surged 58% in the week ended Sept. 12. 

At the same time, completions of new single-family homes were on the rise last month, according to federal statistics. 

Looking for the best time to buy in 2025? It’s the week of Oct. 12–18, says Realtor.com. 

The National Association of Home Builders said its monthly builder-confidence survey indicated rising optimism that lower interest rates could spur new-home buying activity. 

The feature aims to help buyers more easily visualize homes and give agents a stronger marketing tool. 

So far in 2025, home prices have grown at about half the pace of 2024.

The surge comes as the rate on a 30-year fixed-rate mortgage fell to its lowest level since October 2024. 

The rate of home-price appreciation slowed to just over half the rate of inflation in July, Cotality noted. 

Despite the decrease in borrowing costs, the Mortgage Bankers Association’s Market Composite Index showed a decrease in mortgage applications in the week ended Aug. 29. 

At the same time, existing-home sales and housing starts fell, while days on market jumped.

Despite a slowdown in single-family construction activity, newly built homes are becoming increasingly accessible to American buyers, in terms of both availability and affordability. According to data from the New-Construction Insights report released by Realtor.com, in the second quarter

Signed contracts declined despite lower interest rates and improved affordability and inventory, the National Association of REALTORS® said.   

The pace of home-price appreciation declined to its slowest pace in two years, according to the S&P Cotality Case-Shiller U.S. National Home Price Index. 

The upside surprise came despite monthly and yearly declines in the pace of sales. 

Nationally, home sales rose 0.6% year over year but slid 0.7% month over month, RE/MAX said.