Toll Brothers Inc

Mortgage rates stabilized near recent lows, sparking a 5.1% weekly jump in refinance applications. However, purchase demand dipped 1% as builder confidence fell to a seven-month low amid economic uncertainty.

U.S. mortgage rates increased to 6.29% this week, reversing a brief dip below 6% and threatening the spring housing market's early momentum. California's median home price reached $830,370 in February, with sales remaining below 300,000 for the 41st consecutive month.

The average 30-year fixed mortgage rate declined to 6.29% on Tuesday from 6.36% as bond markets stabilized before the Federal Reserve's policy announcement. Pending home sales increased 1.8% in February amid the rate relief.

The average 30-year fixed mortgage rate dropped to 6.01% this week, hitting a multi-year low. However, mortgage lenders and homebuilder stocks exhibited mixed performance amid tepid housing data.

Markets on April 23, 2026, saw Toyota Motor's stock reassessed after recent declines, while Meta's long-term growth story highlighted investor lessons. HSBC cut India to underweight amid soaring crude prices.