Mortgage Applications Surge 20% as Rates Hit 6-Month Low

​Homebuyers and refinancers are racing back into the market as mortgage rates hit a six-month low. According to the Mortgage Bankers Association, applications jumped 20% last week, with refinance activity up 35% and purchase applications rising 9%.

Freddie Mac reported that the 30-year fixed mortgage rate remained under 7% for the twelfth straight week, a stark contrast to the 7%+ highs seen earlier this year. As spring homebuying season ramps up, the timing couldn't be better for rate-sensitive buyers.

Still, there’s a catch: volatility. MBA President Bob Broeksmit warned that economic uncertainty tied to tariffs could keep rates bouncing in the weeks ahead.

In response to the renewed activity, MarketWatch compiled the most recommended mortgage lenders for April 2025 based on reviews from seven major financial sites. The top three most frequently recommended lenders were:
-Rate
-PenFed Credit Union
-Rocket Mortgage
(all tied with 6 “best-of” awards each)

Other strong contenders include PNC Bank, Veterans United, and Bank of America. Most lenders are offering fixed and adjustable-rate loans with minimum down payments as low as 0–3.5%, and many options cater to VA and FHA borrowers.

​Bottom line: With rates falling and demand jumping, now might be the sweet spot for locking in a loan—before tariffs and market swings push costs back up.