After fluctuating throughout 2024, mortgage rates appear to have leveled off near 7.2% as of April 2025. Buyers remain cautious, and many sellers are holding firm on prices while awaiting summer signals.
“Everyone’s in a holding pattern — it’s not a bad market, it’s a nervous one,” said a South Florida lender.
Refinancing applications remain low, but pre-approvals are ticking up in anticipation of possible rate drops.
