Foreclosures +26% Q1; mortgage rates elevated
Key Questions
By how much have foreclosures increased in Q1?
Foreclosures rose 26% in Q1 to 119k filings. The market remains frozen due to elevated mortgage rates and low inventory.
What are current 30-year mortgage rates?
The average 30-year fixed mortgage rate stands at 6.646%, near its highest level in nearly a year. This has contributed to pending home sales dropping 5.4% in June.
How is consumer sentiment affecting the housing market?
Consumer sentiment has hit an all-time low, further pressuring home sales. April existing home sales rose only 0.2% with inventory at 1.47 million.
Q1 foreclosures +26%119k; Apr sales +0.2% inv 1.47M; 30Y mort 6.646%; WAP $360M delayed. Mortgage rates near year high; pending home sales -5.4% June. Market frozen by high rates/low inv; consumer sentiment all-time low.
Sources (2)
Updated Jul 22, 2026