NewsLa OpiniónNovember 7, 2026Los Angeles County
Mortgage rates and high property costs to keep homebuying difficult through 2027
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High mortgage interest rates and elevated property costs are projected to keep homebuying difficult for families and first-time buyers through 2027. According to the Mortgage Bankers Association, 30-year fixed mortgage rates remain above 7%, slowing purchase applications by about 15% compared to the previous year.
Read the full story at La OpiniónWhy It Matters
Homebuyers face higher monthly payments and ongoing affordability barriers, while current homeowners remain locked into their existing properties to keep rates below 3%.
Key Facts
- Fixed 30-year mortgage rates remain above 7%, staying near recent peaks.
- Mortgage purchase applications have decreased by approximately 15% compared to the previous year.
- The Mortgage Bankers Association forecasts that mortgage rates will remain above 7% throughout 2027.
- Many existing homeowners are reluctant to sell their homes because they secured pandemic-era mortgage rates below 3%.
- Higher borrowing costs and elevated property prices continue to pose significant barriers for first-time homebuyers.
- Interest rate trends depend on factors including geopolitical events in the Middle East, oil prices, inflation, federal debt growth, and Federal Reserve decisions.
Who's Mentioned
OrganizationAsociación de Banqueros Hipotecarios“Industry association providing mortgage activity data and forecasts”PersonMike Fratantoni“Chief Economist at the Mortgage Bankers Association”locationEstados Unidos“Country where the housing market conditions are occurring”OrganizationFOX Business“Media organization where the MBA economist made statements”OrganizationReserva Federal“Central bank whose decisions impact interest rates”OrganizationFreddie Mac“Federal Home Loan Mortgage Corporation providing mortgage data”