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Today: Mortgage rates hit a yearly high above 6.64% as Middle East conflict pushes the 10-year yield past 4.31%, new home sales dropped 17.6% in January on weather disruptions, and existing home sales are holding despite rate pressure.
Mortgage rates crossed a critical threshold this week, reaching levels that historically impact housing demand. The 10-year Treasury yield closed above 4.31% for the first time since September 2025, driven by escalating conflict in Iran and higher energy costs. The bond market has now priced out all 2026 rate cuts and is pricing in a potential rate hike. HousingWire
Despite rates pushing past 6.64%, weekly pending sales data remained positive last week at 71,230, up from 68,726 in 2025. However, the historical pattern shows housing data struggles when rates exceed 7%. For Clarke County agents, this means buyer consultations need to shift to emphasizing rate locks and acting before further increases. Purchase application data showed 12% year-over-year growth but only 1% week-to-week growth, suggesting momentum is cooling. HousingWire
The sweet spot for housing demand has been rates under 6.25%. Every week rates stay above 6.64% and push toward 7% makes it harder to maintain growth. For active listings, this means pricing strategy adjustments are overdue. If the conflict extends past March 21 (which it has), expect the 10-year yield to hit 4.60%, the high end of the 2026 forecast range. Mortgage spreads at 1.97% are still favorable compared to the 1.60-1.80% historical range, but they are preventing rates from already exceeding 7%. HousingWire
New home sales dropped 17.6% in January 2026 due to weather disruptions, according to the National Association of Home Builders. This affects the Athens market indirectly by reducing new construction competition, but it also signals broader hesitation in the market. Buyers waiting for new builds may pivot to existing inventory if delays continue. Sierra Sun Times
NAR released an insurance program risk report this week. Details are limited from the headline, but insurance considerations are critical for both agents (E&O coverage in the post-settlement environment) and property owners (homeowners policies in a high-claim environment). Clarke County agents should review coverage limits and ensure compliance with new commission disclosure requirements. NAR via Google News
NAR's 2026 committee application process has been updated. For agents considering leadership positions or seeking to shape industry policy, this is the window to apply. National involvement can benefit local practice through early access to policy shifts and networking with high-volume agents in other markets. NAR via Google News