Let’s compare last week’s mortgage rates to where they would have been over the last three years, given the 10-year yield’s current level:If we had the worst mortgage spread levels of 2023, mortgage rates would be 7.84% today, not 6.74%. today, not If we had the worst levels of 2024, mortgage rates would be 7.46% today. Weekly pending salesOur pending home sales data provides a week-to-week perspective, though results can be affected by holidays and short-term fluctuations. This weekly pending sales data typically takes 30-60 days to be reflected in the sales data. However, unlike previous years, we haven’t seen a big decline in purchase apps, mostly due to mortgage rates staying under 7%.