Latest News Stream - Mortgage Applications

US mortgage applications fell 1.2% in the week ended October 30, after a 3.4% rise in the previous period, despite a modest easing in borrowing costs. The average rate on 30-year fixed mortgages with conforming loan balances decreased to 7.3% from 7.37%, reaching its lowest level since September 2026 following the Federal Reserve’s decision to leave interest rates unchanged in October. However, lower rates failed to stimulate demand, with home purchase applications dropping 2% from the previous week. Refinancing activity was broadly stable, rising just 0.1%. Meanwhile, borrowers continued to turn to adjustable-rate mortgages (ARMs) to secure lower initial payments. The average rate on a 5/1 ARM declined to 6.29% from 6.41%, while the share of applications involving these loans reached its highest level since September 2025.

US mortgage applications rose by 3.4% in the week ending October 23rd, marking the first increase since August and breaking a seventh weekly decline, according to the Mortgage Bankers Association. The increase reflects the easing in borrowing costs in recent weeks. The average 30-year fixed mortgage rate edged down to 7.37% in the week ending October 23, marking a second consecutive weekly decline. Applications for home purchases increased by 3.8% from the previous week, while refinancing applications rose by 2.7%. Nevertheless, persistently high home prices continue to weigh on affordability, limiting the relief that lower mortgage rates offer prospective buyers.

US mortgage applications fell 5.3% in the week ending October 16, marking a seventh consecutive weekly decline and reaching their lowest level since January 2025, according to the Mortgage Bankers Association. The continued drop reflects elevated borrowing costs, with the average 30-year fixed mortgage rate edging lower last week but remaining near a three-year high. Rising bond yields and expectations that the Federal Reserve will keep interest rates higher for longer, amid renewed inflationary pressures from surging energy prices linked to the Iran war, have continued to weigh on housing demand. Applications for home purchases declined by 7.3% from the previous week, while refinancing applications fell 2%.

The volume of mortgage applications in the US fell by 2.7% in the week ending October 9th, marking the sixth consecutive decline to the lowest level since January 2025, according to data from the Mortgage Bankers Association. The drop tracked a sharp increase in mortgage rates over the period, as the benchmark 30-year fixed rate averaged a near-three-year high of 7.5%. Yields on long-term securities continued to surge at the turn of the month despite Treasury efforts to tame the long end by increasing bill issuance and expanding buybacks of nominal notes and bonds. Applications to refinance a loan, which are sensitive to short-term changes in interest rates, fell by 0.45% from the previous week, while purchase applications declined by 0.40%.

The volume of mortgage applications in the US fell by 4.2% in the week ending October 2, marking the fifth consecutive decline and reaching its lowest level since January 2025, according to data from the Mortgage Bankers Association. The drop tracked a sharp increase in mortgage rates over the period, as the benchmark 30-year fixed rate averaged a near-three-year high of 7.49%. Yields on long-term securities continued to surge at the turn of the month despite Treasury efforts to tame the long end by increasing bill issuance and expanding buybacks of nominal notes and bonds. Applications to refinance a loan, which are sensitive to short-term changes in interest rates, fell by 7.5% from the previous week, while purchase applications declined by 2.1%.

US mortgage applications fell 6% in the week ending September 25, extending the decline to a fourth consecutive week as borrowing costs continued to rise. The average rate on 30-year fixed mortgages with conforming balances increased to 7.30% from 7.12%, reaching its highest level since November 2023. Higher rates have particularly discouraged refinancing, with applications dropping 9% and its share of total mortgage activity falling to 38.3% from 39.3%. Government-backed refinancing was even weaker, declining 13% as both FHA and VA applications recorded double-digit falls, according to MBA economist Joel Kan. Demand for home purchases also weakened, with applications down 4% on the week. Buyers are facing the combined pressure of elevated mortgage rates and continued annual increases in home prices. Meanwhile, adjustable-rate mortgages, which offer rates roughly 80 basis points below fixed loans, accounted for 10.3% of applications, the highest proportion since October 2025.

The volume of mortgage applications in the US fell by 1.5% in the third week of September, extending the 4.1% drop in the earlier period to mark a third straight decline, according to data compiled by the Mortgage Bankers Association. The result was aligned with the sharp increase in mortgage rates in the period, with that on the benchmark 30-year fixed rate averaging a two-year high of 7.12%. Hence, nearly 10% of applications were for riskier adjusted-rate mortgages. Applications to refinance a mortgage, which are more sensitive to short-term changes in interest rates, fell by 3%. Yields on longer maturity Treasury securities soared at the turn of the month as high energy prices, elevated debt supply, and widening deficits limited exposure to duration in fixed income. In turn, applications for a mortgage to buy a home inched down by 1%.

The volume of mortgage applications in the US fell by 4.1% in the second week of September, extending the 2.7% drop in the earlier period to reflect the sharpest decline in seven weeks, according to data compiled by the Mortgage Bankers Association. The result was aligned with the sharp increase in mortgage rates in the period, with that on the benchmark 30-year fixed rate averaging a 16-month high of 6.97%. Applications to refinance a mortgage, which are more sensitive to short-term changes in interest rates, fell by 9%. Yields on longer maturity Treasury securities soared at the turn of the month as high energy prices, elevated debt supply, and widening deficits limited exposure to duration in fixed income. In turn, applications for a mortgage to buy a home inched down by 1%.

The volume of mortgage applications in the US fell by 2.7% in the first week of September, the sharpest decline in a little over one month, according to data compiled by the Mortgage Bankers Association. The result was aligned with the sharp increase in mortgage rates in the period, with that on the benchmark 30-year fixed rate averaging a 15-month high of 6.58%. Yields on longer maturity Treasury securities soared at the turn of the month as high energy prices, elevated debt supply, and widening deficits limited exposure to duration in fixed income. Consequently, 8.5% of all applications were adjustable-rate mortgages, the largest ratio since June last year. Applications to refinance a mortgage, which are more sensitive to short-term changes in interest rates, fell by 6%. In turn, applications for a mortgage to buy a home were nearly flat.

The volume of mortgage applications in the US inched higher by 0.8% on the last week of August 2026, paring the 1.0% drop in the previous week, according to data compiled by the Mortgage Bankers Association. The result was aligned with muted movements in benchmark mortgage rates, with the 30-year benchmark fixed mortgage rate inching 1bps higher to 4.79%, despite the persistent pressure on long-term Treasury securities. Application volumes to refinance a mortgage, which are more sensitive to short-term changes in interest rates, inched down by 1.1%. In turn, applications for a mortgage to purchase a new home rose by 2.2%.

The volume of mortgage applications in the US fell by 1% in the third week of August, extending the soft 0.4% drop in the earlier period, according to data compiled by the Mortgage Bankers Association. The slight change was aligned with a muted bps increase in the average benchmark 30-year fixed mortgage rate relatively close to the highest level in one year, as soaring levels of corporate debt, widening deficit spending by the federal government, and concerns of a complacent Federal Reserve drove yields on the 30-year bond to a multi-decade high. Applications to refinance a mortgage, which are more sensitive to short-term changes in interest rates, fell 2%.

The volume of mortgage applications in the US eased by 0.4% on the second week of August, trimming the two-month high rise from the earlier period, according to data compiled by the Mortgage Bankers Association. The muted change was aligned with the constant benchmark mortgage rate of 6.77% in the period, four basis points away from the one-year high in the last week of July, as yields in long-term Treasury bonds held close to a near-two-decade high. Applications to refinance a mortgage, which are sensitive to short-term changes in interest rates, rose by 1.5% from the previous week. In turn, applications for a mortgage to purchase a home, fell by 2%.

The volume of mortgage applications in the US rose by 3.6% on the first week of August, the largest increase in two months, and rebounding from two straight periods of decline, according to data compiled by the Mortgage Bankers Association. The result was aligned with the slight respite for benchmark mortgage rates, tracking the momentary recovery for long-term Treasury bonds from their slide multi-decade highs. Applications to refinance a mortgage, which are more sensitive to short-term changes in interest rates, rose by 5%. In turn, applications for a mortgage to purchase a home rose by 3%.

The volume of mortgage applications in the US fell by 2.9% on the final week of July, extending the 6.4% decline in the earlier period, and marking the largest back-to-back decline in two months. The drop was in line with the increase in mortgage rates, with that on a 30-year fixed contract rising to a one-year high of 6.81%, as concerns that the Federal Reserve may not combat inflation in the near term triggered a surge in term premiums, with the yield on the 30-year Treasury bond rising to its highest in 19 years. Applications to refinance a mortgage, which are sensitive to short-term changes in interest rates, fell by 2% from the previous week to the lowest level since May of last year. Meanwhile, applications for a mortgage to buy a new home fell by 4%.

The volume of mortgage applications in the US fell by 6.4% from the previous week on the period ending July 24th to mark the sharpest weekly decline in two months. The drop was in line with the increase in benchmark mortgage rates, with that on a 30-year fixed contract rising to a one-year high of 6.76%, as inflationary pressures and evidence of a robust labor market supported expectations of a Federal Reserve rate hike this year. Applications to refinance a mortgage, which are sensitive to short-term changes in interest rates, fell by 9.9% from the previous week to the lowest level since May of last year. Meanwhile, applications for a mortgage to buy a new home fell by 3.6%.

The volume of mortgage applications in the US rose by 1.9% on the week ending July 17th, rebounding from two straight losses in the preceding periods, according to data compiled by the Mortgage Bankers Association. The slight bounce took place despite another period of increasing interest rates, with the benchmark 30-year fixed-mortgage gaining 4bps to its highest in 11 months. Rising fuel prices due to a fresh halt on Middle Eastern energy supply raised yields on longer-maturity Treasury securities. Applications for a mortgage to purchase a new home rose 6%, with surveys on real estate agents noting that sellers seem to be more willing to cut prices. In turn, applications to refinance a mortgage, which are more sensitive to short-term changes in interest rates, fell by 2%.

The volume of mortgage applications in the US fell by 2.7% from the previous week on the period to July 10th, extending the decline from the earlier week, according to data compiled by the Mortgage Bankers Association. The drop was aligned with the 7bps increase in benchmark 30-year fixed mortgage rates to 6.65%, tying for the highest in 11 months, as concerns of higher energy inflation drove yields on longer-term Treasury notes and bonds to rise sharply in the period. Applications for a contract to refinance a mortgage, which are sensible to short-term changes in interest rates, fell by 4%. Meanwhile, applications for a mortgage to purchase a home dropped by a sharper 7%.

The volume of mortgage applications in the US fell by 2.2% on the week to July 3rd, extending the muted movements from the two previous weeks, according to data compiled by the Mortgage Bankers Association. The low deviation was consistent with the relative stability in benchmark mortgage rates, with the 30-year fixed rate rising a single basis point to 6.58%, despite the jump in longer-term Treasury yields in the period. Applications to refinance a mortgage, which are more sensitive to short-term changes in interest rates, fell by 4.1%. In the meantime, applications for a mortgage to buy a home inched down by 0.6%.

The volume of mortgage applications in the US were unchanged from the previous week in the last full week of June, according to data compiled by the Mortgage Bankers Association. The stability was aligned with the lack of large changes in mortgage rates in the period, with that on the benchmark fixed 30-year contract easing 2bps to 6.57%. Mortgage rates held despite the pullback in long-term Treasury yields due to retreating energy prices, although hawkish projections from FOMC members tempered any influx into the credit market. Contracts to refinance a mortgage, which are sensitive to short-term changes in interest rates, eased by 0.6%. Meanwhile, applications for a mortgage to buy a home were 0.5% higher.

Mortgage applications in the US inched higher by 1% in the third week of June following the 3.8% drop in the previous period, according to data compiled by the Mortgage Bankers Association. The slight uptick was aligned with a 1bps drop in the benchmark 30-year mortgage rate. The drop in oil prices on de-escalation between Iran and the US brought relief from a pro-inflationary outlook in the economy, but the outlook of a hawkish Federal Reserve following the last FOMC meeting prevented significant respite for long-term Treasury bonds. Applications to refinance an existing mortgage, which are more sensitive to short-term changes in interest rates, rose by 3%. Meanwhile, applications for a mortgage to purchase a home eased by less than 1%.