Mortgage Rates Near 6% — Why Buyers Aren’t Retreating Recent data shows new home sales running roughly 4% above year-ago levels, even as mortgage rates hover stubbornly near the 6% mark. At the same time, refinance applications have surged an eye-catching 150% year-over-year as homeowners scramble to reduce payments after locking in loans at 7% or 8%. At first glance, this looks like resilience. But let’s call it what it is: adjustment under pressure. When a borrower refinances from 7.75% to 6.1%, that’s not optimism. That’s survival. It’s an attempt to claw back monthly cash flow in an environment where groceries, insurance premiums, utilities, and property taxes have all climbed sharply over the past several years. Buyers aren’t charging into…
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